So. Korea Insurers Estimate Typhoon Claims at $130 Million

September 10, 2002

South Korea’s property/casualty insurers have estimated that they will pay 156.3 billion won (around $130 million) in claims for damages caused by typhoon Rusa, which struck the country last week (See IJ Website Sept. 2)

South Korea’s property/casualty insurers have estimated that they will pay 156.3 billion won (around $130 million) in claims for damages caused by typhoon Rusa, which struck the country last week (See IJ Website Sept. 2)

The storm, one of the most powerful ever to hit the country, caused overall damages estimated to be as high as 5 trillion won (over $4 billion), making the estimates of insured losses comparatively light.

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