FSC de­tails three claims avail­able to vic­tims of pow­der ex­plo­sion

The China Post - - LOCAL - BY ENRU LIN

The Fi­nan­cial Su­per­vi­sory Com­mis­sion ( ) yesterday de­tailed three types of claims avail­able to the nearly 500 vic­tims in­jured when col­ored pow­der caught fire at a wa­ter park in New Taipei City on Satur­day.

Ini­tial media re­ports had in­di­cated that the freak ac­ci­dent could be­come one of the most ex­pen­sive in­sur­ance claims in re­cent history.

Ac­cord­ing to the Con­sumer Pro­tec­tion Com­mit­tee ( ) of the Ex­ec­u­tive Yuan, vic­tims may be el­i­gi­ble for up to NT$ 50 mil­lion in to­tal com­pen­sa­tion from public li­a­bil­ity in­sur­ance alone.

The FSC, Tai­wan’s main reg­u­la­tory body for the in­sur­ance sec­tor, said yesterday that it is in­ves­ti­gat­ing the range of re­lated claims.

Based on a pre­lim­i­nary sur­vey, the vic­tims are en­ti­tled to file three types of claims, i nclud­ing claims through public li­a­bil­ity in­sur­ance poli­cies held by the wa- ter park and the lo­cal event or­ga­nizer.

Public Li­a­bil­ity In­sur­ance

Ta­ian In­sur­ance ( )— the in­sur­ance com­pany of Formosa Fun Coast (

) wa­ter park — and the event or­ga­nizer’s Zurich (

) have al­ready dis­patched per­son­nel to meet with claimants and their fam­i­lies, ac­cord­ing to the FSC.

The reg­u­la­tory body said that Ta­ian In­sur­ance has cho­sen to adopt com­pen­sa­tion stan­dards set by the New Taipei City Gov­ern­ment and award NT$5,000 and NT$ 10,000 to vic­tims with light and se­vere in­juries, re­spec­tively.

To­tal com­pen­sa­tion f rom Ta­ian In­sur­ance will be dis­bursed to 149 vic­tims and is es­ti­mated at NT$ 1 mil­lion in to­tal, the FSC said.

In­di­vid­ual, Group In­sur­ance

Vic­tims can also file claims un­der their in­di­vid­ual in­sur­ance poli­cies and un­der stu- dent group in­sur­ance.

An es­ti­mated 351 vic­tims hold poli­cies from com­pa­nies that in­clude Cathay Life In­sur­ance ( ) , Shin Kong Life In­sur­ance ( ) , Nan Shan Life In­sur­ance ( ) and Ming­tai In­sur­ance Co ( ).

In ad­di­tion, some pow­der­ex­plo­sion vic­tims were stu­dents who ac­cord­ing to law should be cov­ered un­der stu­dent group in­sur­ance, the FSC stated.

The reg­u­la­tory body said it will re­quest that the in­sur­ance firms ac­tively fa­cil­i­tate claims fil­ing.

Late Satur­day at around 8: 30 p. m., a dust- like col­ored pow­der ex­ploded near a per­for­mance stage at Formosa Fun Coast in New Taipei City’s Bali Dis­trict ( ) , en­gulf­ing hun­dreds in the au­di­ence in a blaze.

Most of the in­jured are re­ceiv­ing in- pa­tient care at one of over 40 hos­pi­tals in Keelung, New Taipei City, Taipei City, Greater Taoyuan, Hs­inchu, Greater Taichung, Changhua County and Greater Kaoh­si­ung.

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