Heavy rainfall caused severe flooding in parts of Taiwan and China
EQECAT estimated that insurable damages for Taiwan from Typhoon Fanapi are from $0.5bn to $1.0bn.
After battering Taiwan on Sunday, Fanapi made landfall in China approximately 245 miles northeast of Hong Kong on Tuesday as a category 1 typhoon with maximum sustained winds of 75 mph.
Heavy rainfall from Fanapi is causing severe flooding in the eastern and southern regions of Taiwan, while in China, there is localised flooding and pockets of damages, but the overall insurable losses for China are expected to be minimal.
Fanapi is the strongest typhoon of the 2010 North West Pacific typhoon season.
Generally, buildings in urban and metropolitan areas of Taiwan adhere to the latest construction codes, which incorporate wind-resistant qualities. However, this is not the case in rural areas and smaller townships.
In comparison to Typhoon Morakot (in 2009), Fanapi is drier and is impacting a more remote region.
Fanapi is now a tropical storm and is likely dissipate quickly.