Insurance pays more than $1.5 million to compensate for Bell 505 fuselage

Recently, PVI Insurance has announced the completion of procedures related to the insurance of the Bell 505 helicopter body, registration number VN-8650, which crashed in the sea bordering Hai Phong and Quang Ninh.

Accordingly, as the original insurer for Vietnam Helicopter Corporation (VNH), PVI Insurance has completed the relevant procedures and is ready to pay VNH the amount of 1,569,400 USD (after deducting the deductible).

Thus, after 20 days since the loss occurred, PVI Insurance has completed full compensation payment for the fuselage of VN-8650.

Previously, 2 days after the accident, PVI Insurance paid an advance compensation of 50,000 USD (1.18 billion VND) to the pilot who unfortunately died.

A representative of PVI Insurance said that the company is coordinating with the pilot's relatives to complete the procedures to pay the remaining compensation amount under the Pilot Accident Insurance Policy of 150,000 USD.

Regarding VNH's liability insurance coverage related to passengers, PVI Insurance is also coordinating with VNH to discuss with passengers' relatives to determine specific wishes on a reasonable basis, according to practice and in compliance with legal regulations.

On the afternoon of April 5, a Bell 505 aircraft with registration number VN-8650 took off from Tuan Chau Island, Ha Long City, Quang Ninh Province and had an accident, killing 4 passengers and 1 pilot.

PVI – Bao Viet – MIC Insurance Joint Venture is the Insurer providing insurance for the aircrafts of Vietnam Helicopter Corporation (VNH) and PVI Insurance is the Primary Insurer in the Insurance Joint Venture.

The insurance program includes Aircraft Hull Insurance, Airline Liability Insurance for Passengers and Third Parties, Pilot Accident Insurance .

Source: https://www.nguoiduatin.vn/bao-hiem-chi-hon-15-trieu-usd-boi-thuong-cho-than-may-bay-bell-505-a604832.html