VIETNAM INSURER PAYS OUT 60bn DONG OVER TYPHOON XANGSANE

Vietnam-based insurer Bao Viet, has said that it expects to pay out between 50 and 60bn dong in claims for the destruction caused by Typhoon Xangsane which hit the country on October 1 ^st . The hardest hit areas where in the country’s coastal regions with two resorts – the Golden Sand and Furama Resort reporting respective losses of $1m and $100,000. Aside from the damage sustained in the tourist industry a number of commercial properties, such as workshops and storehouses, vehicles and boats were also destroyed although there has been no confirmation yet of the number of fatalities. Tran Trong Phuc, general director of Bao Viet, says that the insurer is working with loss adjuster Crawford and Cunningham as well as local authorities to gain a clearer picture of the damage sustained and the sums involved in settling claims.