Accordingly, the Department of Insurance Management and Supervision ( Ministry of Finance ) informed that in the field of non-life insurance, the total expected insurance compensation is 4.2 billion VND. Specifically, the ship owner's civil liability insurance for passengers and crew accident insurance expected to be paid by Bao Long Insurance Company is 1.2 billion VND.
Passenger accident insurance is jointly insured by Bao Viet Insurance Company with the Post and Telecommunication Joint Stock Insurance Corporation (PTI) and the Military Insurance Joint Stock Corporation (MIC), with an expected payout of VND2 billion. Credit insurance is paid by AAA Insurance Joint Stock Company, with an expected payout of VND1 billion.
For life insurance, the total expected insurance payout is VND10.07 billion. Of which, Bao Viet is expected to pay VND2 billion. Generali Vietnam is VND4.2 billion. Manulife is expected to pay more than VND3 billion, Dai-ichi is expected to pay VND700 million, Prudential is expected to pay VND100 million and AIA is expected to pay VND50 million.
Currently, insurance companies have proactively contacted the victims’ relatives to guide them through the procedures and make payments. However, according to information from the companies, in many cases, the victims or their families have not yet completed their records because they are in the process of treating their injuries or arranging for funerals.
The Department of Insurance Management and Supervision said it will continue to closely monitor the implementation of insurance companies. At the same time, it will urge and support businesses in the process of insurance advances and payments, to ensure that insurance benefits are resolved fully, promptly and in accordance with regulations.
Previously, on July 21, the Department of Insurance Management and Supervision also sent a document requesting the Vietnam Insurance Association and insurance companies to report on the damage and insurance compensation in the capsized tourist ship Blue Bay 58.
The Department recommends that insurance companies proactively coordinate with relevant agencies and individuals to determine damage to people and property of organizations and individuals participating in insurance; immediately make advance compensation, compensation and pay insurance money quickly, promptly and fully to insurance buyers and beneficiaries according to the agreement in the contract and legal regulations.
Source: https://www.sggp.org.vn/vu-lat-tau-tren-vinh-ha-long-du-kien-bao-hiem-boi-thuong-hon-14-ty-dong-post804864.html
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