Property Insurance - Additional Information

1. Supplementary Coverage

Business Interruption
You may opt for Business Interuption coverage in addition to your comprehensive Commercial Property All Risks Insurance and at an equitable extra premium. Business Interruption covers loss of gross profit due to reduction in turnover and increase in cost of working, resulting from business interruption caused by accidental damage to property insured. Insurable business interruption losses are the following:

Losses incurred as a result of decrease in net sales
Fixed costs and expenses incurring during the business interruption period such as bank interests, employee's salaries, rent, electricity
Costs and expenses of hiring external auditors

For example, if a shoe factory had a fire, its operations would be interrupted, resulting in extra costs and possibly a loss of profit. Also, the business may continue to incur fixed costs, such as salaries, even though the business cannot operate until the factory is repaired.

2. Optional Extension Covers (subjects to an equitable extra premium)

Machinery Breakdown (Sub-limit VND 5 billion)
Safeguards your plant and machinery from any sudden and unforeseen physical loss or damage occasioned by any mechanical or electrical failure.

Loss of Profits following Machinery Breakdown (Sub-limit VND 5 billion)
Safeguards your profits due to interruption arising from any sudden and unforeseen physical loss or damage to your machinery.

Plate Glass (Sub-limit VND 2 billion)
Insures you against damage to Plate Glass and the lettering and ornamentation therein by breakage of glass or by chemicals.

Money on Premises and in Transit (Sub-limit VND 500 million)
Covers you against loss of money and/or cheques kept within the insured premises or whilst in transit provided that money is transited by cars accompanied by two staff (at least one security staff).

3. Partnership with Bao Viet - your assurance of quality and service

Commercial Property All Risks Insurance is one of the HSBC commercial business protections, underwritten by BaoViet Insurance Corporation, the strategic partner of HSBC. With the HSBC’s commercial banking expertise and the insurance capabilities of BaoViet Group, you can be assured of the highest standards of service and products tailored to your needs.

4. Why HSBC?

In strategic partnership with BaoViet Holdings, HSBC Bank (Vietnam) Ltd is able to provide value-added service by offering a comprehensive range of insurance products for our corporate clients with the advantages of:

One-Stop Service
With HSBC One-Stop Service, customers can now avail of both banking and insurance services at one contact point - HSBC.

Competitive Coverage and Premium
As BaoViet's sole foreign strategic partner, HSBC's customers can enjoy tailor-made products and services with a competitive price from BaoViet.

World-Class Customer Service
Our dedicated team of experienced Corporate Insurance Services and Relationship Managers will be able to assist customers in choosing the most appropriate insurance plans to fit their needs.

HSBC Global Experience in Insurance
With over 20 million insurance policy holders in more than 50 countries and territories worldwide, HSBC draws on 200 years of experience to provide top insurance consultancy services to our corporate clients.

BaoViet Insurance Corporation (BaoViet Insurance)

BaoViet Insurance Corporation is a member of BaoViet Holdings. With prestigious position and profound experience in insurance gained from a long-standing operation, strong financial capability, nation-wide agency network consisting of 66 member companies, dedicated and professional staff with comprehensive understanding of customers' need, BaoViet Insurance has long been the leading insurer in Vietnam.

HSBC Insurance (Asia Pacific) Holdings Limited

HSBC Insurance (Asia-Pacific) Holdings Limited, a wholly owned subsidiary of The Hongkong and Shanghai Banking Corporation Limited, is the parent company of four underwriting companies: HSBC Insurance (Asia) Limited; HSBC Life (International) Limited; HSBC Insurance (Singapore) Pte Limited; and HSBC Amanah Takaful (Malaysia) Sdn Bhd (49 per cent held). Its shareholdings also include 50 per cent less 1 share of Hana HSBC Life Insurance Co., Ltd in Korea, 26 per cent of Canara HSBC Oriental Bank of Commerce Life Insurance Co. Ltd in India, and 10 per cent of Bao Viet Holdings in Vietnam. Through its companies, it has a presence in the Hong Kong Special Administrative Region (SAR), the Macau SAR, Singapore, Taiwan, Malaysia, Korea, India and Vietnam. In Mainland China, it has representative offices in Beijing, Shanghai and Guangzhou. HSBC Insurance (Asia-Pacific)'s total assets were in excess of US$14.8 billion at the end of December 2007.