The sinking of the Yangtze will cost insurers 15 million USD

According to Chinese authorities, the loss of the vessel Yangtze will cost insurers an approximate amount of 92.5 million CNY (15 million USD). The ship, owned by the company Chongqing Eastern Shipping Corporation, sank on 1 June 2015.

More than 400 people have died during this terrible event. The Yangtze was insured with PICC for the sums of 15.7 million CNY (2.5 million USD). Nearly 340 insurance policies will play out after this accident: the shipowner, travel agencies, the crew and many passengers were insured.

According to authorities, 12 million CNY (1.9 million USD) will be owed as third party liability insurance held by travel agencies.
The 396 passengers shall benefit from 61.7 million CNY (10 million USD) through personal insurance while the crew was covered for 3.12 million CNY (508 280 USD).

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