TAIPEI (Taiwan News) — The Financial Supervisory Commission said Sunday that it has instructed insurance companies in Taiwan to offer relief measures for policyholders affected by Typhoon Danas, including expedited claims processing, deferred premium payments, and waiving handling fees for policy issuance, CNA reported.
KGI Life Insurance Co. said that for policyholders who are hospitalized or pass away due to the typhoon, it will initiate expedited claims processing as soon as the incident is confirmed. This will allow the required documents to be submitted after the payment is made. Hospitalized policyholders who meet the relevant criteria may apply for an advance of up to NT$60,000 (US$1,850).
KGI Life also noted that policyholders confirmed as disaster victims by a government agency may apply to extend their premium payment deadline by up to three months. It is offering mortgage relief for affected holders, allowing them to defer principal payments and pay interest only for three months upon submitting supporting documents.
TransGlobe Life Insurance said that affected policyholders can apply to defer premium payments till the end of September. Those who lost their insurance policies due to the typhoon can also apply for a free re-issuance without incurring handling fees. Additionally, interest payments on policy loans for affected policyholders may be deferred for six months.
Cathay Life Insurance Co. added that for its affected policyholders, insurance premiums and policy loan interest due in July can be deferred for three months. The principal and interest on home loans for affected households are also eligible for a three-month deferral. Policyholders who are hospitalized due to the typhoon and meet relevant criteria may also apply for medical benefits covering up to seven days of hospitalization.
Cathay Life advises vehicle owners whose cars have been submerged in floodwater to avoid starting the engine before the water recedes to prevent potential engine damage. The company also recommends that affected owners have their cars towed out of the flooded area as a first step.
According to the Central Emergency Operation Center, 143 typhoon-related incidents had been reported nationwide as of 8 p.m. Sunday, with 28 people injured.
Authorities evacuated 2,853 people from central, southern, and eastern regions. Twenty temporary shelters were established in the south and Taitung, accommodating 230 individuals. Power outages affected 22,728 households nationwide, while 242 households experienced water supply disruptions.
