Gyeonggi-do Encourages Enrollment in Flood and Windstorm Insurance

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province has encouraged subscribing to 'Feng Shui Disaster Insurance,' which provides compensation in the event of unexpected natural disasters such as typhoons, heavy rain, and earthquakes.

Feng Shui Disaster Insurance is a policy that practically compensates for property damage to houses, greenhouses, and small business owners (stores and factories) caused by natural disasters such as typhoons, floods, heavy rain, tidal waves, strong winds, storms, heavy snow, and earthquakes. The government and local governments support more than 70% of the insurance premium.

In particular, since the revision and enforcement of the Feng Shui Disaster Insurance Enforcement Decree in April, some residents who have a history of disaster damage or live in disaster-prone areas such as landslide-vulnerable zones can receive up to 100% support for their insurance premiums.

Feng Shui Disaster Insurance can be subscribed through the Eup, Myeon, Dong administrative welfare centers or six private insurance companies (DB Insurance, Samsung Fire & Marine Insurance, Hyundai Marine & Fire Insurance, KB Insurance, NH Nonghyup Property & Casualty Insurance, Hanwha General Insurance).

A provincial official urged, "We ask that more residents, including those who have experienced damage from natural disasters in the past, subscribe to Feng Shui Disaster Insurance."