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Few Chinese flood victims claim insurance on losses (2) |
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22:02, July 24, 2007 |
So far, 3,200 of the 130,000 claims had been settled, which amounted to 20.34 million yuan (2.71 million U.S.dollars).
The government launched trial insurance schemes for farm produce to help tide farmers over possible disasters.
In south China''s Hainan province, the local government subsidized 50 percent of insurance premiums on six agricultural products.
Similar experiments had been carried out in six other provincial areas such as Jilin, Inner Mongolia and Zhejiang.
To encourage pig breeding and bring meat prices under control, the government provided insurance for sows against blue-ear disease, said Yuan.
China has 56 domestic insurance companies, eight insurance groups and holding companies, and nine insurance assets management companies, while 45 foreign insurance companies from 15 countries and regions have established 128 agencies in China.
Source: Xinhua
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