Product liability: Vietnam Airlines signed contract with joint-venture insurance companies

On December 26 2015, in Hanoi, the Vietnam Airlines and the joint-venture insurance companies held the signing Aviation insurance ceremony period 2015-2016. The contract is signed in terms of many types of insurance like product liability, war risks, etc.

Product liability: Vietnam Airlines signed contract with joint-venture insurance companies

Terms of the contract

Accordingly, the insurance companies will provide aviation insurance services in accordance with provisions of the State and international practice for the entire fleet of Vietnam Airlines, JSC Aviation Jetstar Pacific Airlines (JPA), Public Aviation Service Flight Company (VASCO) during operation in the whole world; product liability insurance for the operation of the aircraft Engineering Ltd. (VAECO), Vietnam Aviation Catering Services Limited Company (VACs), Company Limited Vietnam Air Petrol (VINAPCO). The contract will be involved in the fuselage insurance, liability insurance for carriers, insurance against war risk ... with total insured value of the fleet of nearly 6 billion dollars and insured at liability (including product liability) totaling up to US $ 2 billion / service.

Shares of both parties

Pham Ngoc Minh, general director of Vietnam Airlines Corporation states: "The cooperation between Vietnam Airlines Corporation and joint-venture insurance companies not only brought huge benefits to the parties, but more importantly to bring the safety and peace of mind for all our customers. Besides investment in developing quality fleet and services with the goal of becoming one of the leading airlines sector, the guarantee of three trusted insurance companies in the Vietnam insurance market will give customers more and more reason to believe and choose Vietnam Airlines' services. "

A CEO of joint-venture insurance companies said: "With this event, our insurance company became the original insurance company providing aviation insurance for all airlines in Vietnam. Thanks to this, we continue to strengthen our position as number one in the insurance field, the largest insurance provider  in key national projects. "

Insurance program is the combination of financial capacity, experience, professional staff between the Vietnam joint-venture insurance companies and the reinsurance prestigious in the world.