Typhoon Sanba made landfall as a Cat 1 storm on Monday in Goseong in the South Gyeongsang Province of South Korea, but insured losses from the event are expected to be minimal, according to catastrophe modellers EQECAT and AIR Worldwide.Last week, Typhoon Sanba was a Category 5 storm, making it the most intense storm of the 2012 storm season — across all global basins. On Sunday morning, Sanba made landfall as a Category 3 storm, battering Okinawa, packing winds of about 100 knots. Okinawa received about seven inches of rainfall. The storm caused power outages, and shutting down airports and mass transportation.The storm then weakened further as it moved into cooler waters before making landfall about 56 miles southwest of Busan — South Korea’s second most populated city after Seoul.Sanba caused significant disruption along its path bringing torrential rains, localised flooding and landslides. Maximum sustained winds at landfall in Korea were around 94 miles per hour — the equivalent of a Cat 1 (almost Cat 2) hurricane.EQECAT estimates that the insured losses from the event are expected to be minimal because most damage is expected to be below deductibles.AIR also noted that “Sanba missed a direct hit on South Korea’s second largest metropolitan area of Busan (population of more than four million) by about 60 miles. Peak sustained winds in Busan were between 35 and 40 miles per hours and total precipitation was 4 ⅜ inches. Only minimal damage is expected in that region.”Dr Peter Sousounis, senior principal atmospheric scientist at AIR Worldwide said buildings in this region are built to withstand such storms.“At Sanba’s reported wind speeds, structural damage to well-built structures is expected to be minimal. Wind damage is likely to be limited to roofs and wall claddings, and to signage, traffic lights and trees.”Both modellers said that after making landfall in South Korea, the storm moved away quickly, thereby reducing the potentials of major widespread flooding.