Many cars have been damaged during a severe flood caused by Storm Matmo in Thai Nguyen Province.
According to the Insurance Supervision Authority under the Ministry of Finance, reports from all insurance firms show that storms Bualoi and Matmo caused extensive human and material losses.
Losses involving human casualties were recorded in seven cases, with estimated insurance payouts totalling VND 745 million (around USD 30,000).
As of October 10, non-life insurers had received 3,748 damage reports involving property, engineering, and health insurance, with an estimated compensation value of VND 1.67 trillion (around USD 68 million). Of these, over 1,000 cases related to property and engineering insurance, accounting for nearly VND 1.59 trillion (about USD 65 million) in damages, while 2,650 motor vehicle claims were valued at more than VND 76 billion (about USD 3.1 million).
“The majority of reported losses are concentrated in property, engineering, and motor vehicle insurance. Companies are still receiving additional damage reports,” the Insurance Supervision Authority said.
Insurers are urgently assessing claims and processing payments in accordance with regulations to help residents and businesses recover from the disasters.
A report by the Ministry of Agriculture and Environment on October 9 noted that over the past two and a half months, Vietnam had endured five storms making landfall. The most recent two, Bualoi and Matmo, triggered historic flooding and widespread devastation.
Since the start of the year, natural disasters have left 238 people dead or missing and 367 injured. More than 258,000 houses have been damaged or unroofed, while over 555,000 hectares of rice fields, crops and plantations have been flooded or destroyed.
Total economic losses nationwide are estimated at more than VND 33.5 trillion (approximately USD 1.36 billion).
