Chinese Insurers Start Emergency Measures to Support Earthquake Victims
Zhang Xia
DATE:  Aug 11 2017
/ SOURCE:  Yicai
Chinese Insurers Start Emergency Measures to Support Earthquake Victims Chinese Insurers Start Emergency Measures to Support Earthquake Victims

(Yicai Global) Aug. 11 -- More than 30 Chinese insurance companies have taken emergency measures, such as setting up expedited claim channels, helping with disaster relief and offering special coverage after earthquakes hit the country's Sichuan and Xinjiang provinces.

Major insurers Ping An Insurance Group Co. of China Ltd. [SHA:601318], Sunshine Insurance Group Corp. Ltd., China Pacific Insurance Group Co. [SHA:601601] and People's Insurance Group of China Co. [HKG:1339] all immediately set up working groups to help in the emergency rescue, while Sichuan Provincial Tourism Association used the Hong Kong-listed firm's helicopter to carry out free air rescue.

Sunshine Insurance offered up free coverage for volunteers involved in local disaster-relief, including CNY300,000 (USD44,000) accidental death insurance, CNY100,000 accidental disability insurance and CNY2,000 accidental medical cover.

Huaxia Life Insurance Co. said it would provide long-term funding for orphans of the Jiuzhaigou earthquake in southwestern Sichuan province.

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Keywords:   MSCI,CPIC,PICC,Earthquake,Disaster Area