Insurance Firms Ordered to Urgently Compensate Victims of Typhoon No. 10

On October 1, the Insurance Supervision and Management Department (under the Ministry of Finance) issued an urgent notice requiring all insurance enterprises to coordinate closely with local authorities and relevant agencies to ensure quick and effective compensation for policyholders. The goal is to help victims recover from the disaster as soon as possible.

Insurance companies are instructed to quickly determine the extent of human and property damage, immediately advance compensation, and ensure timely and full payment of insurance benefits according to contractual obligations.

The Department also requested the Vietnam Insurance Association to coordinate with its member companies in carrying out humanitarian support activities, particularly for households suffering severe losses, poor families, and policy beneficiaries in disaster-hit regions.

Insurers are required to submit reports on damage assessment, compensation progress, and humanitarian assistance by the end of October 1 so that the Ministry of Finance can monitor and direct the recovery process.

Earlier, the Prime Minister issued an urgent directive ordering all provinces to focus on post-typhoon recovery efforts and mobilize resources to assist residents. If local contingency funds are insufficient, provincial People’s Committees must report to the Prime Minister and the Ministry of Finance for additional support, ensuring financial aid is fully disbursed by October 5.

According to a rapid report from the Ministry of Natural Resources and Environment, as of 5:00 p.m. on September 30, Typhoon No. 10 and related flooding, landslides, and storms had left 48 people dead or missing, 90 houses destroyed, over 144,000 houses damaged or unroofed, and nearly 14,000 homes flooded.

Additionally, more than 26,700 hectares of rice and crops and 9,500 hectares of aquaculture were damaged. The country’s dyke system reported 15 structural incidents, while over 1,100 transportation routes were flooded or cut off, severely hampering rescue and recovery operations.