Insurance agents and people standing around a chicken farm (Hai Duong province) that was just collapsed by storm Yagi. There were 3 victims here, the insurance company quickly compensated – Photo: L.D.THIỀN
Insurance is urgently paying benefits to customers who unfortunately suffered damage or death due to storm No. 3 (Yagi), floods, and landslides.
Insurance covers the time of death
Having been a life insurance agent for 10 years, Mr. Pham Van Tuyen (51 years old, Nam Sach district, Hai Duong province) has supported compensation payments for many cases of serious illness, stroke, etc.
But he could not have imagined that this very month, typhoon number 3 (Yagi) would hit, killing all three customers at once, all of them men, the breadwinners of their families.
He said sadly that it had been a long time since there had been a big storm, and people in his hometown were very surprised. Luckily, the storm hit during the day. But because it was daytime and the sky was still bright, they did not expect such heavy damage. Before the storm hit, he texted customers to be careful because it was a super storm. When the storm was big and phone signal was lost, everyone looked for each other to see if anyone had any problems.
“The chicken farm in the village had its roof blown off, three men came to help. But human strength was no match for the storm’s strength, the cement wall collapsed. Three people died at the same time, two of them were relatives. Tragic, so tragic,” he could not help but grieve.
While the victims’ families were taking care of the funeral, the agent quickly reported it to the insurance company to expedite compensation. After attending the funeral, the authorities confirmed the death certificate, and the company immediately paid a total of more than 5.3 billion VND.
“The incident just happened, the shock is severe. Knowing that a billion or more billions cannot bring back a life. But this amount of money can compensate for some of the people who are left behind. Your wives and children still have to live,” Mr. Tuyen shared.
In addition to the three victims, AIA Vietnam has just completed compensation for the relatives of two other customers who died due to storm Yagi in Hai Duong and Quang Ninh. The total benefits for the five people is 6.5 billion VND.
Meanwhile, BSH Insurance received 6 missing cases and one death due to Typhoon Yagi. Dai-ichi initially determined that there were 6 victims lost in the landslide in Yen Bai, estimated to pay 2.7 billion VND…
“Life insurance plays an important role in ensuring social security and protecting people in difficult times. Only when compensation is paid quickly and satisfactorily will people believe,” said Ms. Ho Thi Ngoc Nhu – Head of the Life Insurance Claims Support Department, Academy of Insurance and Financial Risk Management (IFRM).
The landslide in Cao Bang left many people dead. In the photo is a crushed car found in the stream area, after falling from the road – Photo: Ministry of Public Security
Fast advance, early compensation
Recently, the Traffic Police Department said that at km 180+680 of National Highway 34 (Ca Thanh Commune, Nguyen Binh District, Cao Bang Province), a landslide occurred on the positive slope – the slope from the road surface to the top of the mountain. Causing a passenger bus, two cars and many motorbikes to fall, be buried and swept away into the stream.
As soon as it was determined that the owner of the above passenger car had purchased compulsory civil liability insurance for motor vehicle owners, BIC Insurance immediately collected data. At the same time, it provisionally paid the highest compensation to the passengers on the passenger car, and closely coordinated with the vehicle owner to give it to the victim’s family.
The rescue team is continuing to search for missing victims. The company is working with the vehicle owner and authorities to determine the exact number of victims in order to make timely advances and compensation.
In case the victim is not an insured passenger as mentioned above, BIC will coordinate with the parties so that the Vietnam Insurance Association can provide timely support from the Motor Vehicle Insurance Fund.
Within just a few days after Typhoon Yagi made landfall, a series of major insurance companies such as PVI, Bao Viet, MIC, PJICO… continuously received reports of losses to people and property such as cars, private houses, construction works, factories, warehouses, machinery and equipment, wharves, goods…
The compensation level is expected to increase further, after the customer/family member is more stable and makes a declaration.
Create peace of mind for customers
Mr. Nguyen Xuan Viet – Chairman of the Vietnam Insurance Association – on behalf of the association sent his deepest condolences to the people and businesses suffering losses and difficulties caused by storm No. 3.
It is estimated that businesses have recorded more than 9,000 losses related to property insurance, motor insurance, and life insurance. The total damage is about 7,000 billion VND.
Mr. Viet emphasized that ensuring insurance benefits “not only helps customers overcome difficult times, but also demonstrates the insurance industry’s commitment to social responsibility towards the community.”
In addition, insurance companies need to further improve service quality, create trust and peace of mind for customers, thereby contributing to the sustainable development of the country’s economy.