This cooperation model includes three parties: business - insurance unit - consumer. In which, Detech Bio is responsible for distributing products according to the announcement and circulation license. Agribank Insurance will be the insurance unit responsible for appraisal, assessment and payment in case Detech Bio products pose risks to users.
Agribank Insurance representative said that the signing was carried out after an assessment of the quality, origin and legality of the products provided by Detech Bio. For Detech Bio, this is a step in the strategy of expanding responsibility to consumers, especially in the context of users increasingly concerned about the transparency and safety of health care products.
According to the agreement, Detech Bio will prioritize the use of Agribank Insurance's insurance products in production and business activities and introduce them to partners and suppliers. At the same time, Agribank Insurance commits to designing suitable insurance products, accompanying Detech Bio in consulting, issuing applications, after-sales care and appraisal - compensation.
The highlight of this cooperation is the product liability insurance contract - a solution specifically designed for Detech Bio to protect the company from legal risks when customers use dairy products and nutritional foods distributed by the company.
Detech Bio will prioritize using insurance products of Agribank Insurance.
Deputy Director of Corporate Customer Department - Agribank Insurance Pham Vinh Quang said that the cooperation with Detech Bio is an important milestone, demonstrating the ability to deploy high-tech insurance products according to international standards outside the traditional agricultural market of Agribank Insurance.
On the contrary, “proactively purchasing product liability insurance is a clear and strong commitment to consumers. Not only do we provide quality products, we also protect the interests of customers to the maximum extent,” affirmed Detech Bio IMF Project Director Hua Trung Hieu.
The two sides also agreed to establish a specialized focal point to coordinate the implementation of cooperation, support each other comprehensively in terms of information, resources and confidentiality, and strictly comply with the law. The agreement takes effect from the date of signing and is automatically renewed annually if there is no notice of termination.
This signing affirms the increasingly important role of product liability insurance in protecting businesses against legal and commercial risks in a competitive market context.
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