Vietnam: Typhoon Yagi insurance claims reach trillions of dong
Source: Asia Insurance Review | Oct 2024
Insurance companies in Vietnam have received at least VND2.76tn ($112m) in claims to date for damages caused by typhoon Yagi which made landfall in Vietnam on 7 September.
PVI Insurance, which leads the non-life insurance market, has received over 500 claim requests amounting to VND2tn for property damaged by Yagi. The figure does not include claims for lives or injuries nor vehicles affected by the typhoon, reported VNExpress.
“This could be a historic amount of damage for PVI and other insurers in Vietnam,” the company said.
The majority of the losses from the typhoon involve private properties—in particular, industrial facilities – and vehicles crushed by falling trees or submerged in the flooding. A