“Homes, Factories, and Greenhouses”… Ulsan City Supports ‘Wind and Flood Damage Insurance’ for Natural Disaster Preparedness

Insurance Premium Support of 500 Million KRW for 5 Districts and Counties

"We provide insurance coverage not only for homes, offices, and factories but also for vinyl greenhouses."

Ulsan City is supporting 500 million KRW for flood and windstorm insurance premiums in five districts and counties to prepare for property damage caused by natural disasters.

Flood and windstorm insurance is a policy insurance that offers practical compensation for property damage caused by unexpected natural disasters such as typhoons, heavy rain, strong winds, and earthquakes.

This year, Ulsan City plans to invest 1 billion KRW (500 million KRW from the city and 500 million KRW from districts and counties) to expand the base of flood and windstorm insurance and reduce the burden on citizens by supporting up to 91% of the insurance premiums.

Anyone residing in the city is eligible to apply, and the main coverage targets include houses (including movable property), greenhouses (including vinyl greenhouses), and stores and factories (small business owners).

Those wishing to subscribe to flood and windstorm insurance can inquire and apply at their local eup, myeon, or dong administrative welfare centers, or through any of the seven insurance companies (DB Insurance, Hyundai Marine & Fire Insurance, Samsung Fire & Marine Insurance, KB Insurance, NH Nonghyup Property & Casualty Insurance, Hanwha General Insurance, Meritz Fire & Marine Insurance).

An official from Ulsan City stated, "Due to recent consecutive abnormal weather events causing unexpected natural disasters, flood and windstorm insurance is necessary," adding, "We will do our best in natural disaster prevention activities for the safety of our citizens."

Ulsan City Hall exterior view. (Photo by Ulsan City Hall)

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