How much is the advance indemnity for damage to health and life for compulsory civil liability insurance by motor vehicle owners in Vietnam?
How much is the advance indemnity for damage to health and life for compulsory civil liability insurance by motor vehicle owners in Vietnam?
Pursuant to the provisions of Clause 3, Article 12 of Decree 67/2023/ND-CP, it clearly states that within 3 working days after being notified by the policyholder or the insured about the accident, the insurer must provide advance indemnity for damage to health and life, to be specific:
- In case the accident has been identified to be covered by insurance:
+ 70% of estimated indemnity per person in case of fatalities.
+ 50% of estimated indemnity per person in case of bodily injuries.
- In case the accident has not been identified to be covered by insurance:
+ 30% of the maximum coverage per person in case of fatalities and estimated whole person impairment (WPI) of 81% or more.
+ 10% of the maximum coverage per person in case of estimated WPI of from 31% to less than 81%.
After providing advance indemnity, insurers may request MVIF to reimburse the advance payment if the accident is an insurance exclusion or not covered by insurance.
How much is the advance indemnity for damage to health and life for compulsory civil liability insurance by motor vehicle owners in Vietnam?
In what cases does an insurance company have the right to reduce the amount of compensation for damages?
Pursuant to the provisions of Clause 7, Article 12 of Decree 67/2023/ND-CP, there are provisions as follows:
Principles of indemnification
....
7. Insurers may reduce up to 5% of indemnities for damage to property in case policyholders or the insured fail to notify insurers about accidents according to Clause 4 of this Article or insurers detect that policyholders and the insured fail to notify in case of changes to factors which serve as the basis for calculating insurance premiums during execution of policies, thereby increasing insured risks after insured events occurred.
According to the above regulations, Insurers may reduce up to 5% of indemnities for damage to property in following cases:
- policyholders or the insured fail to notify insurers about accidents within 5 working days from the date on which accidents occur except for force majeure or objective obstacles, policyholders or the insured must send notice of accidents in writing or electronically to insurers.
- or insurers detect that policyholders and the insured fail to notify in case of changes to factors which serve as the basis for calculating insurance premiums during execution of policies, thereby increasing insured risks after insured events occurred.
What is the application for claim for compulsory civil liability insurance of motor vehicle owners in Vietnam?
Pursuant to Article 13 of Decree 67/2023/ND-CP stipulating that applications for claim for compulsory civil liability insurance of motor vehicle owners shall compose of the following documents:
(1) Claim forms.
(2) Documents related to motor vehicles, vehicle operators (certified true copies or copies bearing confirmation of insurers after being compared with originals or photocopies)
- Vehicle registration certificates (or certified true copies and valid original receipts of credit institutions substituting for original vehicle registration certificates during the period in which the credit institutions hold original vehicle registration certificates) or proofs of vehicle title transfer and proofs of vehicle origins (in case vehicle registration certificates are not available).
- Driving licenses.
- ID cards, Citizen Identity Cards, passports or other personal documents of vehicle operators.
- Certificates of insurance.
(3) Documents proving damage to life and/or health (copies of health facilities or copies bearing confirmation of insurers after being compared with originals or photocopies). Depending on the extent of damage to life, one or some documents below may be included:
- Written proof of injury.
- Medical records.
- Excerpts of death certificates, death notices, written confirmation of police authorities or assessment results of forensic examining bodies in case victims decease while mounting vehicles or decease due to accidents.
(4) Documents proving property damage:
- Valid invoices and instruments or evidence proving repair and/or replacement of property damaged due to accidents (in case insurers repair and remediate the damage, the insurers are responsible for collecting such documents).
- Documents, invoices and instruments related to additional expenses incurred by motor vehicle owners to reduce the damage or follow instructions of insurers.
(5) Copies of relevant documents of police authorities collected by insurers in fatal accidents for third party and passengers or accidents required to be verified that they are solely caused by third party, including: notice of traffic accident investigation, verification, resolution results or notice of accident investigation and resolution results.
(6) Assessment records of insurers or persons authorized by insurers.
(7) Judicial decisions (if any).
Policyholders and the insured shall collect and submit the documents prescribed in 1, 2, 3, 4 and 7. Insurers shall collect the documents prescribed in 5 and 6.
Thus, the application for claim for compulsory civil liability insurance of motor vehicle owners includes the above documents.
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