Vingroup, insurers cut deal to cover Times City

August 07, 2013 | 08:54

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VinGroup Company on Monday signed an agreement with BIDV Insurance Corporation (BIC) and Petrolimex Insurance Corporation (Pjico) to provide insurance service for Times City project with the total cover of VND7 trillion.

Representatives of VinGroup, BIC and Pjico sign the insurance contract for Times City project on Monday
Photo: Courtesy of BIC

According to a statement released by BIC on Monday, the contract includes insurance packages for asset risks, fire and explosion, business interruption, public liability and machine collapse.

Located in Hanoi City’s Hai Ba Trung District, the Times City urban complex covers 37 hectares with many facilities such as high-class condos, amusement park, commercial center, cuisine area, hospital and school. The project is expected to start operating this month.

BIC since 2006 has provided insurance services for many projects developed by VinGroup such as Vincom Centre Hanoi, Vincom Eden B, Vinpearl Land and Vincom Village.

On July 17, VinGroup appointed BIC and Pjico to provide insurance service for Royal City project with the total liability of nearly VND13 trillion.

SGT

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