HCMC – The Insurance Supervisory Authority has ordered insurance companies to submit damage and compensation reports related to Storm Bualoi and subsequent flooding by October 1.
The authority, under the Ministry of Finance, sent an official request to the Insurance Association of Vietnam and insurers, asking them to provide updates on losses, compensation, and support efforts, reported the Vietnam News Agency.
Insurers have been told to work closely with relevant agencies, organizations, and affected individuals to expedite recovery measures. In cases of damage, companies must quickly assess human and property losses, provide advance payments, and settle claims in full compliance with contracts and legal requirements.
The Insurance Association of Vietnam has also been tasked with coordinating humanitarian support alongside insurance companies.
The directive follows a September 28 order from the prime minister, urging ministries, local governments, and agencies to step up response efforts to Storm Bualoi. Authorities were told to mobilize resources to address flooding, tidal surges, and landslides, and to allow residents to return home only once conditions are deemed safe.
As of 7 p.m. on September 30, official data from the Vietnam Disaster and Dyke Management Authority showed the storm and floods had left 29 people dead and 19 missing.
Nationwide, 91 houses collapsed, more than 144,000 homes were damaged or lost roofs, and nearly 20,000 were inundated. Over 32,800 hectares of rice and crops and almost 10,000 hectares of aquaculture farms were destroyed.
Transport routes, power grids, and telecommunications networks were also disrupted. In Thanh Hoa, Nghe An, Quang Tri, and Hue, more than 19.6 kilometers of riverbanks and coastal dikes were severely eroded.
