Inje-gun Urges Enrollment in 'Fengsuhae Insurance' for Compensation of Natural Disasters like Heavy Snowfall

90% Insurance Premium Support... Additional Copayment Support for Inje Residents
Compensation for Natural Disaster Damage to Houses, Vinyl Houses, and Small Business Stores

"Subscribe to 'Fengsuhae Insurance' that compensates for damages caused by eight types of natural disasters such as heavy snow, floods, and strong winds."

Inje-gun, Gangwon Special Self-Governing Province (Governor Choi Sang-gi) announced on the 23rd that it is promoting subscription to 'Fengsuhae Insurance,' which provides compensation for damages caused by natural disasters during the winter season.

A view of Inje County Office, Gangwon Special Self-Governing Province. Photo by Inje County Office

Managed by the Ministry of the Interior and Safety and supported by the national and local governments, 'Fengsuhae Insurance' is a policy insurance that compensates for damages caused by eight types of natural disasters including heavy snow, typhoons, floods, heavy rain, strong winds, wind waves, tidal waves, and earthquakes (including tsunamis).

The eligible subscribers are residents of Inje-gun, specifically covering ▲houses (detached, multi-family, tenants) ▲agricultural and forestry greenhouses (including vinyl houses) ▲small business owners (stores and factories). The compensation scope includes property damage caused by natural disasters, and optional coverage for damages such as broken house windows and flooding can be selected as special contracts.

The insurance premiums are supported over 90% by the Ministry of the Interior and Safety and Inje-gun. In particular, residents of Inje-gun receive additional support for their share of the insurance premium based on local ordinances, allowing them to enjoy insurance benefits at a more affordable cost.

The insurance products are handled by seven private insurance companies (▲DB Insurance ▲Hyundai Marine & Fire Insurance ▲KB Insurance ▲Samsung Fire & Marine Insurance ▲NH Nonghyup Property & Casualty Insurance ▲Hanwha General Insurance ▲Meritz Fire & Marine Insurance). Those who wish to subscribe can contact the respective insurance companies individually to enroll.

Meanwhile, the number of Fengsuhae Insurance subscribers in the Inje area this year reached 2,425, an increase of about 16% compared to last year (2,093). The scale of damage compensation was recorded as a total of 115 cases worth 290 million KRW, including 6 cases for houses and 106 cases for greenhouses.

An official from Inje-gun stated, "As the possibility of natural disasters increases due to climate change and concerns about related damages grow, we will strive to provide reliable support in crisis situations," adding, "We strongly recommend subscribing to Fengsuhae Insurance, which allows self-preparation at an affordable premium."