Insurers in China have paid out 145,000 of the total claims figure in flood- and disaster-struck regions, totalling CNY2.54 billion (US$352.85 million).
The total number of claims across the 16 regions affected by the recent floods and rains is at 266,000, equal to an estimated loss of CNY9.76 billion, according to figures from the National Administration of Financial Regulation.
Claims were highly concentrated on the most affected areas, including the municipalities of Beijing and Tianjin as well as the provinces of Hebei, Jili, Heilongjiang, and Fujian. These six areas account for 245,000 of the total claims number, according to a report from China Daily.
Previously, the China regulator urged insurers and banking institutions to mobilize support for the disaster-affected businesses, including support policies and credit extensions. In total, loans amounting to CNY13.89 billion have already been extended to the most affected areas.
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