Chungnam Encourages Enrollment in 'Fengsuhae Insurance' to Prepare for Summer Rainy Season

[Asia Economy (Hongseong) Reporter Jeong Il-woong] Chungnam Province announced on the 28th that it encourages residents to subscribe to flood and windstorm insurance before the summer season, when natural disasters are frequent.

Flood and windstorm insurance is a type of national policy insurance that compensates for property damage caused by floods, windstorms, or earthquakes, targeting small business-operated stores and factories, apartments including houses, and agricultural and forestry greenhouses.

In particular, since the revision and enforcement of the Enforcement Decree of the Flood and Windstorm Insurance Act on the 5th of this month, residents who have a history of disaster damage or live in disaster-prone areas such as landslide-vulnerable zones can receive up to 100% premium support from the government and local governments when subscribing to the insurance.

The insurance products are divided into fixed-amount types that compensate according to the scale of damage such as total destruction, partial destruction, or minor damage, and indemnity types that compensate the actual amount of damage.

The insurance subscription procedure can be guided through the administrative welfare centers of the resident's jurisdictional eup, myeon, or dong, or the disaster management departments of the city or county.

Lee Young-min, head of the Natural Disaster Division of the province, said, “Starting this month with Cheonan, we will sequentially hold on-site explanation meetings for residents to increase the benefit rate of flood and windstorm insurance for vulnerable areas and groups.” He added, “We will help vulnerable groups in areas where natural disasters are frequent or highly likely to occur to reduce economic difficulties caused by disasters through insurance subscription.”

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