Gwangju Seo-gu Selected as 'Best Institution' in Wind and Flood Insurance Project Evaluation

Published 13 Dec.2021 13:30(KST)

[Asia Economy Honam Reporting Headquarters, Reporter Shin Dong-ho] Seo-gu, Gwangju Metropolitan City, was selected as the best institution among the five autonomous districts in the ‘2021 Flood and Windstorm Insurance Project Evaluation’ hosted by Gwangju Metropolitan City.

According to Seo-gu on the 13th, flood and windstorm insurance is insurance prepared for damages caused to houses or facilities by typhoons, heavy rain, heavy snow, and other flood and windstorm disasters.

Subscribers who are ordinary citizens can receive 70% of the insurance premium supported by the government, basic livelihood security recipients 86%, lower-income groups 75%, and small business owners 70%.

This evaluation converted the local governments’ insurance subscription performance and promotional achievements over the year into scores for assessment.

Seo-gu achieved a subscription performance of 31.37% against the target facilities with 3,266 housing insurance subscriptions.

They also conducted active promotional activities including 5 media reports, 104 collaboration and resident briefing sessions, 24 online and offline promotions, and 4,106 visits encouraging subscriptions.

Additionally, Seo-gu received high scores overall and was honored as the ‘Best Institution for Two Consecutive Years,’ receiving an institutional commendation and a support fund of 1.3 million KRW.

A Seo-gu official said, “In case of damage caused by natural disasters, subscribing to flood and windstorm insurance can provide compensation up to 90%. We will do our best to promote the flood and windstorm insurance project so that many residents can subscribe and receive practical compensation from unexpected disasters.”