NongHyup Insurance to Respond Immediately to Typhoon Farm Damage Recovery

Choi Chang-soo, CEO of NH NongHyup Property & Casualty Insurance (second from the right), is visiting hail damage sites to console farmers.

[Asia Economy Reporter Oh Hyung-gil] NH NongHyup Property & Casualty Insurance announced on the 31st that it will take immediate action to support the recovery of farms damaged by the rainy season and typhoons in cooperation with the Ministry of Agriculture, Food and Rural Affairs.

According to NongHyup P&C Insurance, as of the 28th, the number of crop disaster insurance claims received due to Typhoon No. 8, Bavi, reached about 17,000 cases, of which about 9,000 cases involved fruit trees such as apples and pears.

The Ministry of Agriculture, Food and Rural Affairs and NongHyup P&C Insurance plan to conduct rapid damage assessments to ensure that follow-up measures such as disaster recovery for farms can proceed quickly, as another typhoon is forecasted this week. NongHyup P&C Insurance has formed a "Regional Management Team" by assigning and deploying survey personnel by region to fully support on-site operations and expedite damage assessments.

Kim Min-ho, head of the Agricultural Insurance Department at NongHyup P&C Insurance, emphasized, "Due to recent consecutive natural disasters and the approaching typhoon, severe damage to farms is expected," adding, "We will do our best to enable farms to rebuild early through prompt damage assessments."

This content was produced with the assistance of AI translation services.