Bicycle Fire: Insurance Needed for Expensive Sports Equipment

Mr. Nguyen Ngoc Vu, in charge of cycling at the Department of Sports and Physical Training, and also the head of the Vietnamese delegation at the Asian tournament, said: "According to feedback from clubs and athletes, they have raised the issue of buying insurance with companies, but in Vietnam, they only sell insurance for cars, motorbikes... but not bicycle insurance." The majority of bicycles in clubs in Vietnam cost more than 100 million VND each, with specialized bicycles worth up to 400 million VND like the bike of racer Nguyen Tuan Vu.

Vietnam cycling team competes in 2025 Asian Championship with bikes borrowed from host Thailand

According to Thanh Nien reporters' research, not only cycling but many other top sports also do not have insurance for equipment. For example, in shooting, each gun that Trinh Thu Vinh or Pham Quang Huy is using is worth more than 100 million VND but they have not bought insurance. In archery, each bow that Vietnamese athletes use is also worth nearly 100 million VND but also has no insurance. If an accident causes damage, there will be a big loss because no one will compensate.

Mr. Nguyen Nam Nhan, Deputy Director of the Department of Culture and Sports of Ho Chi Minh City, said that in the past, some companies did not sell accident insurance to athletes because of the high risk of compensation, because athletes in combat sports often get injured during competitions. Later, they agreed to sell accident insurance to athletes but did not sell insurance for sports equipment.

Meanwhile, Mr. Hoang Quoc Vinh, Head of High Performance Sports Department I (Department of Sports and Physical Training), said that when teams such as cyclists go to international competitions, the transportation process, both people and equipment, is covered by transportation companies. When arriving at the country hosting the competition, the Organizing Committee is responsible for the transportation. "In the case of an incident with the cycling team, the Organizing Committee must be responsible for compensating the Vietnamese delegation for damages," Mr. Vinh said. From the incident with the cycling team, the Department of Sports and Physical Training also reviewed and reminded teams to pay attention to preserving and protecting equipment, and have optimal plans for valuable equipment.

Mr. Nguyen Nam Nhan added that the Department of Culture and Sports of Ho Chi Minh City will negotiate to buy insurance for sports equipment worth 100 million VND or more. In addition, when organizing sports tournaments, attention will be paid to transporting specialized equipment to ensure safety and minimize risks.

No compensation plan for Vietnamese bicycles yet

Yesterday, February 7, Mr. Nguyen Ngoc Vu, in charge of cycling at the Department of Sports and Physical Training, said he had met with the President of the Asian Cycling Federation Amarjit Singh and the representative of the host Thailand to discuss compensation for the damage caused by the fire in the Vietnamese team's vehicle fleet. The Thai host said that the truck used to transport the Vietnamese team's vehicle fleet did not have insurance for the goods on the vehicle. The Vietnamese team also reiterated that the responsibility belongs to the Organizing Committee. The leader of the Asian Cycling Federation asked the Vietnamese team and the host Thailand to continue discussing and come up with a solution to the damage. The Asian Cycling Federation also promised to provide support for the Vietnamese team.

Mr. Vu added that after lending the cars and equipment to the Vietnamese team, the Thai side came yesterday (February 7) to give gifts and encourage the Vietnamese racers, and promised to discuss a compensation plan after the unfortunate incident.

Source: https://thanhnien.vn/vu-chay-xe-dapcan-co-phuong-an-bao-hiem-trang-thiet-bi-the-thao-dat-tien-185250207215359569.htm