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China's insurance companies handle 145,000 claims in disaster-hit regions

Xinhua | August 17, 2023


The value of payments and prepayments by insurance companies had reached 2.54 billion yuan (352.85 million U.S. dollars) for 145,000 claims in China's 16 regions affected by disasters as of Aug. 15, data showed Wednesday.

The National Administration of Financial Regulation said that as of Tuesday, the total number of insurance claims in the 16 regions stood at 266,000, with an estimated loss worth 9.76 billion yuan.

The claims were mostly in six areas where disasters were most severe -- the municipalities of Beijing and Tianjin and the provinces of Hebei, Jilin, Heilongjiang and Fujian. These areas reported 245,000 claims with an estimated loss of 9.05 billion yuan.

The government agency said it had mobilized banking institutions to formulate support policies promptly and increase credit extension for disaster relief and post-disaster reconstruction. As of Tuesday, loans totaling 13.89 billion yuan had been extended to the six regions.

Heavy floods and other rain-triggered disasters hit many parts of China during this year's flood season.