PVI HOLDINGS After successfully winning bids in a series of insurance agreements in key projects such as Long Thanh International Airport construction Investment Project, T3 Terminal Construction Project, of Noi Bai International Airport with General Corporation Airports Corporation of Vietnam, Quang Trach I Thermal Power Plant Project with Electricity of Vietnam (EVN). PVI Insurance Corporation (PVI Insurance) continues to affirm its position when signing cooperation agreement comprehensive insurance coverage for power plants of the Vietnam Oil and Gas Group (PVN) with PetroVietnam Power Generation Branch (PVPGB) of PVN. The event took place at the Petroleum Services Conference 2023 organized by PVN in Hanoi on August 25, 2023.
Mr. Ho Cong Ky (left) - Director of PetroVietnam Power Generation Branch and Mr. Pham Anh Duc - CEO of PVI Insurance signed the agreement with the witness of Mr. Le Manh Hung - CEO of PVN, Mr. Nguyen Xuan Hoa - CEO of PVI Holdings and the Board of Directors of PVNInfluenced by the global commitment at COP 26 on reducing waste emissions, the world coal power insurance market has faced many difficulties in recent times when the market's capacity to receive reinsurance has plummeted as most reinsurers withdrew from the market, only a few reputable reinsurers remained in the business.. As a result, coal power projects face a lot of difficulties in finding insurance plans with appropriate coverage, reasonable insurance costs with reputable reinsurers to ensure their ability to pay. ability to recover compensation if a big loss
occurs. Therefore, the Agreement is of great significance for the two parties in coordinating to find a reputable market, arrange comprehensive insurance programs for the chain of coal - fired power plants of PVN such as: Property insurance, Construction/installation insurance, Equipment transportation insurance; Business interruption insurance and/or Power output insurance; Liability insurance; Employer liability insurance; Health care insurance and other insurance services when needed by the PVPGB.
With the capacity and experience of a market-leading insurer, PVI Insurance is committed to providing a full and valuable range of consulting services, risk management, and the best insurance policies with competitive terms, conditions, and premiums based on PVPGB's activities on the basis of safety, efficiency, and cost optimization, under international practices and Vietnamese laws. In addition, PVI Insurance will also support PVPGB in training insurance and risk management officers, providing information on the international coal - fired power insurance market situation, providing professional analysis in the field of insurance, and working together with PVPGB to make the best insurance decisions for PVPGB's assets and people.
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PVI Holdings published this content on 26 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2023 07:53:07 UTC.
