Chungnam Encourages Enrollment in 'Feng Shui Disaster Insurance'
[Asia Economy (Naepo) Reporter Jeong Il-woong] Chungnam Province is encouraging local residents to subscribe to ‘Fengshui Disaster Insurance’.
According to the province on the 16th, Fengshui Disaster Insurance is a policy insurance that compensates for property damage caused by natural disasters such as typhoons, floods, heavy rain, and strong winds, allowing restoration to the original state.
When a natural disaster occurs, residents who are not insured receive only disaster relief funds of 13 million KRW (based on a 100㎡ house), but those who have insurance can receive up to 90 million KRW in insurance payments.
Inquiries about insurance subscription can be made through the address-based Eup, Myeon, or Dong offices of the insured property or the city/county disaster departments.
Earlier, the province held briefing sessions while touring cities and counties within the jurisdiction to encourage residents in areas vulnerable to summer flooding to subscribe to Fengshui Disaster Insurance.
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A provincial official said, “Natural disasters such as guerrilla heavy rains, which have become frequent due to recent abnormal weather, are factors causing property damage to local residents,” and added, “The province will continue to promote the importance of Fengshui Disaster Insurance and focus on encouraging subscriptions.”
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