Ministry of Finance asks insurers not to sell COVID-19-related products

Update: 17:51 | 02/04/2020
The Ministry of Finance has asked insurers to stop introducing and selling insurance packages related to COVID-19.
TIN LIÊN QUAN
ministry of finance asks insurers not to sell covid 19 related products MOFA: Vietnam to halt all entries of foreigners, Vietnamese-origin foreign citizens and relatives on March 22
ministry of finance asks insurers not to sell covid 19 related products MOFA ready to protect Vietnamese amid rising COVID-19 infection in South Korea

This request, issued late on March 31, includes life and non-life insurance in compliance with the Prime Minister’s Directive No 16/CT-TTg on urgent measures to prevent and fight the disease.

ministry of finance asks insurers not to sell covid 19 related products
VASS Assurance Corporation has halted its Corona Care products from April 1 nationwide. (Photo: vass.com.vn)

The directive “requests insurance businesses not to introduce or launch products related to COVID-19”, the ministry said, and asked firms to strictly adhere to the directive throughout their networks, while refraining from the use of images of COVID-19 to offer insurance packages.

Many insurers had recently launched a number of insurance packages covering the deadly virus with attractive costs and benefits. Some business also teamed up with commercial banks to launch anti-COVID products.

However, there has also been public discontent because some people are not eligible to buy insurance.

After the request, VASS Assurance Corporation announced it was halting its Corona Care products from April 1 nationwide.

In a letter to customers on March 31, the company said for customers who had purchased insurance, it would fulfill all its responsibilities as specified in the contracts and create alternative products for customers.

Other providers such as PVI Insurance Corp, Posts and Telecommunications Insurance, and Military Insurance have also reportedly announced they will cancel sales of anti-COVID products, but pledged to fulfill their commitments to customers who have already purchased packages.

ministry of finance asks insurers not to sell covid 19 related products COVID-19 pandemic has no impact on plastic firm

The global spread of COVID-19 has had an insignificant impact on An Phat Bioplastics JSC’s performance in the first three months, shareholders were told on ...

ministry of finance asks insurers not to sell covid 19 related products Prime Minister: Next two weeks will be “decisive” for VN’s fight against COVID-19

Prime Minister Nguyen Xuan Phuc said that the next 10-15 days will be “decisive” for Vietnam’s fight against the COVID-19 pandemic.

ministry of finance asks insurers not to sell covid 19 related products Health sector mobilizes all medical staffs for COVID-19 combat

Vietnam is stepping up preparations for a possible long-term fight against the COVID-19, including mobilization of all medical personnel of the health sector.

(Source: VNA)