Safety net for fishermen
PetroVietnam Insurance is to insure local fishermen against risks caused by foreign ships under the government’s direction.
PVI’s general director Bui Van Thuan said that product would cover local fishermen’s damages caused by foreign or strange ships colliding, hijacking them and their vessels.
“Frequency [of damage] in this case is very high,” said Thuan.
However, the premiums will be of very low to involve local fishermen, while insurance expenses would be mainly financed by PVI’s social security fund and the government’s budget.
Saying the project is “of very big-scale and very sophisticated,” he expected the new insurance product to be launched in the next month or two.
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