Magazine date:
Jan 2014 According to analysts, the social reforms initiated by the Chinese government are likely to foster the emergence of a pool dedicated to cover risks of natural catastrophes by the end of 2014. The third plenary meeting of the Communist Party included discussions on the introduction of an insurance scheme designed to protect people against the risk of earthquakes.
Insurers are still reluctant to sell policies covering natural events especially as such demand is low. Therefore, the authorities are thinking about a national insurance program against this kind of catastrophe.