Ministry of Finance: Proposal for advance payment and insurance compensation for helicopter crash at sea

The Department of Insurance Management and Supervision ( Ministry of Finance ) has just sent a document requesting PVI Insurance Corporation to urgently assess the extent of damage, determine the scope of insurance compensation and carry out procedures to settle advance compensation and insurance compensation quickly, promptly and fully for insurance participants in the Bell 505 helicopter crash.

Image of Bell 505 aircraft registration number VN-8650 before the crash.

The document of the Department of Insurance Management and Supervision stated that, regarding the incident of the Bell 505 helicopter (registration number VN-8650) of the Northern Helicopter Corporation, Army Corps 18, which crashed on April 5, 2023 in the border area of Hai Phong and Quang Ninh, PVI Insurance Corporation (PVI) was requested to urgently and proactively coordinate with relevant agencies and organizations and individuals participating in insurance for damage to people and property caused by the helicopter accident.

The management agency requests PVI and other agencies, organizations and individuals to coordinate to assess the extent of damage, determine the scope of insurance compensation and carry out procedures for settling advance compensation and insurance compensation quickly, promptly and fully for insurance participants, according to the agreement in the insurance contract and legal regulations.

The management agency also requested PVI to urgently assess the extent of damage and loss within the scope of insurance and report to the Department of Insurance Management and Supervision before April 10, 2023.

On the afternoon of April 7, 2023, on its website, PVI also issued a press release stating that "PVI Insurance is the leading original insurer in the insurance consortium for aircraft of Vietnam Helicopter Corporation".

PVI's announcement said that the PVI - Bao Viet - MIC Insurance joint venture is the insurer providing insurance for the aircraft of Vietnam Helicopter Corporation (VNH) and PVI Insurance is the leading original insurer in the insurance joint venture.

The insurance program includes: aircraft hull insurance; airline liability insurance for passengers and third parties; pilot accident insurance.

“As the leading primary insurer, PVI Insurance immediately arrived at the scene, actively and closely coordinated with VNH and relevant authorities to promptly resolve insurance-related issues in accordance with the provisions of the insurance contract and current laws,” PVI said in a statement.

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.

(baodansinh.vn)

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