Taiwanese insurers are speeding up claims payments and providing fee waivers to policyholders impacted by Typhoon Danas that hit the country on the 6 of July.
The typhoon severely impacted southern Taiwan with record winds and strong rain, killing two people and injuring more than 630 in a rare hit to the island's densely populated west coast.
The country’s insurance regulator, Financial Supervisory Commission has instructed insurers to extend relief measures for policyholders affected by the typhoon. Several insurers like KGI Life, Transglobe Life and Cathay Life have taken steps to provide speedy claims processing, deferred premium payments, and waiving handling fees for policy issuance.
The typhoon led to the evacuation of 2,853 people from the central, southern, and eastern region of Taiwan. The government set up 20 temporary shelters in the south and Taitung, that accommodated 230 individuals. Power outages affected 22,728 households nationwide, while 242 households experienced water supply disruptions.