Typhoon 'Hinnamnor' Causes Damage to Over 4,100 Vehicles and 33.6 Billion KRW Loss

Typhoon No. 11 'Hinnamnor' passed through Ulsan on the morning of the 6th, flooding the Jangsaengpo area in Nam-gu, Ulsan City, where a fire broke out in a parked vehicle.
[Image source=Yonhap News]

More than 4,000 vehicles were reported to have been damaged by flooding due to Typhoon No. 11 'Hinnamnor'.

According to the non-life insurance industry on the 6th, a total of 4,104 cases of vehicle flood damage caused by Hinnamnor were reported to 12 non-life insurance companies by 3 p.m. that day. The estimated damage amount reached 33.642 billion KRW.

Among the four major companies?Samsung Fire & Marine Insurance, DB Insurance, Hyundai Marine & Fire Insurance, and KB Insurance?3,488 cases of vehicle flood damage were reported, with an estimated damage amount of 28.595 billion KRW.

The number of flood-damaged vehicles is expected to increase further.

Following the heavy rain that struck Gangnam, Seoul last month, the vehicle damage caused by the typhoon has also increased, raising concerns among non-life insurers about a rise in automobile insurance loss ratios.

According to industry data, from the 8th to the 23rd of the same month, 11,988 flood-damaged vehicles were reported to insurance companies due to the heavy rain last month, with an estimated damage amount of 154.9 billion KRW.

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