Recent heavy rainfall in southern China has led to significant flooding and geological disasters, resulting in casualties and substantial property damage.
As of June 23, the National Financial Regulatory Administration (NFRA) reported that regional insurance institutions received 18,400 claims, with reported losses totaling RMB 619 million. The claims cover various types of insurance, including automobile, enterprise property, agriculture, accident, and rural housing.
In response to the disaster, the NFRA has issued a notice urging the insurance industry to act promptly in handling flood and drought-related claims. The notice emphasizes the importance of utilizing the insurance sector’s capabilities for pre-disaster prevention, in-disaster relief, and post-disaster recovery.
Insurance institutions have deployed nearly 10,000 personnel to the affected areas and dispatched over 5,000 vehicles for investigation and rescue operations. To date, RMB 105 million has been paid or pre-paid in claims, with the process continuing in a steady and organized manner.
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