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Flooding costs in China

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Magazine Issue: 
The pandemic risk, insurers’ future Eldorado [3]
Magazine date: 
Jul 2020

floodsAccording to the Chinese regulatory authority (CBIRC) the damages caused by floods in July 2020 amount to 2.4 billion CNY (343 million USD).

The event has affected twenty-six provinces, among which: Guangdong, Guangxi, Jiangxi, Chongqing, Sichuan, Hubei, Anhui and Guizhou.

The highest losses were recorded among the motor, corporate property and agricultural insurances. Insurers have established some measures to speed up the claim settlement process.

Read also | Chinese insurance industry [4]

Tue, 04/08/2020 - 10:50

Source URL: https://www.atlas-mag.net/en/article/flooding-costs-in-china

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[4] https://www.atlas-mag.net/en/article/chinese-results-for-the-first-half-of-2020