China's insurance pays 13.3bn-yuan accident indemnity in five years

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Last updated at: (Beijing Time) Saturday, October 04, 2003

China's insurance pays 13.3bn-yuan accident indemnity in five years

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China's insurance business has paida total accident indemnity of 13.3 billion yuan (1.6 billion US dollars) for one billion people in the past five years, according to the statistics from China International Committee for Natural Disaster (CICND).

The statistics also show that the country's insurance industry has paid 50.9 billion yuan (6.2 billion US dollars) as property insurance for 15.84 million enterprises and families in the last five years.

The liability indemnity offered by the insurance business has amounted to 6.2 billion yuan (749.7 million US dollars) in half a decade, reveal the statistics.

In addition, the insurance industry has also paid indemnities for risk to 5.79 million hectares of farmland and 2.09 million livestock, with the total amount up to 2 billion yuan (241.8 million US dollars).

Officials with CICND consider that China's insurance business has played an active role in reducing disaster damage, protecting people's life and property and maintaining social stability.

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