Super typhoon Yagi damage leads to over 1,750 non-life insurance claims
Insures in Vietnam had received 1,754 claims against property and vehicle damage caused by super typhoon Yagi as of Tuesday afternoon.
A tree falls down on a car as a result of super typhoon Yagi. Photo courtesy of CafeF.
In their initial reports, insurance companies including Bao Viet, VBI, PVI, Bao Minh, ABIC and PJICO recorded 684 property insurance claims and 1,070 vehicle insurance claims.
Amid the continued damage caused by the residual effects of the super typhoon in northern localities, the number of non-life insurance claims is expected to rise, the firms said, adding that they have not yet estimated the specific values of the losses.
Earlier, the Insurance Supervisory Authority under the Ministry of Finance ordered the Vietnam Insurance Association and insurance companies to make reports on the damage and insurance claims related to the typhoon.
To support organizations and individuals in recovering from the storm's damage, the authority requested insurance companies proactively coordinate with relevant agencies and individuals to assess human and property losses of policyholders.
They were also urged to promptly make advance payments, settle claims, and pay insurance benefits in line with the contracts and legal regulations.
The Vietnam Insurance Association has asked its member companies to continue fulfilling their responsibilities and participate in humanitarian efforts, helping affected organizations and individuals recover from the disaster as quickly as possible.
Super typhoon Yagi, which made landfall in northern Vietnam on Saturday, claimed 82 lives and left 64 others missing as of 1 p.m. Tuesday, according to the Department of Dyke Management and Natural Disaster Prevention under the Ministry of Agriculture and Rural Development.
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