A community in Lào Cai Province flooded during Typhoon Bualoi. VNA/VNS Photo Anh Tuấn

HÀ NỘI  — As of October 2, insurance companies have reported six claims related to loss of human life and 2,281 non-life insurance claims related to Typhoon Bualoi, with a total estimated insurance payout of more than VNĐ357 billion (US$13.5 million), according to the Insurance Supervisory Authority under the Ministry of Finance.

Based on reports from all 32 non-life insurers and 19 life insurers, the six claims from loss of human life resulted in estimated insurance payments of VNĐ700 million. 

Meanwhile, losses related to property and other non-life insurance coverage add up to more than VNĐ356.5 billion in estimated damages.

Storm No 10, also known as Typhoon Bualoi, caused severe damage in many provinces and cities after hitting northern and central provinces earlier this week. 

Of the insurance payment figures, one claim on health insurance resulted in a payout of VNĐ200 million, while 591 claims on technical property insurance added up to over VNĐ315.6 billion. Motor vehicle insurance accounts for 1,680 cases, with estimated losses of VNĐ38.3 billion.

Other insurance claims, including marine hull insurance and agricultural insurance, involved 10 cases with estimated damages of VNĐ2.6 billion.

Altogether, initial payouts by insurers for human and property losses caused by Typhoon Bualoi amount to VNĐ357.2 billion.

“The reports from insurance companies show that most of the losses so far are concentrated in technical property insurance and motor vehicle insurance. Insurers are continuing to receive and process claims,” the Insurance Supervisory Authority said. — VNS