insurance industry Vietnam Archives

Insurance fraud plot led Vietnam woman to cut off her limbs

August 30, 2016August 26, 2016 Julie Campbell

The woman has admitted to paying for an amputation to be able to make a claim on a policy. A Vietnamese woman has now admitted to a gruesome form of insurance fraud. In order to obtain a payout on a policy she held, police say she claimed to have been hit by a train. In truth, she had paid to have her foot and part of her arm cut off. The woman was thirty years old at the time and pretended to have been struck by a passing train. Ly…

Vietnam opens its doors to foreign insurers

June 17, 2011June 17, 2011 S.Vagus

Vietnam is opening the doors to its insurance industry, inviting foreign insurers to set up shop and do business within the country. The move comes as government officials begin to make significant changes to the country’s regulatory framework. Vietnam is home to one of the most rapidly growing insurance markets in the world and the rate of growth has only increased in recent years. A.M. Best Company, a renowned rating agency for the world’s insurance industry, expects that the demand for insurance will soar as the nation continues to develop…