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China: 'Natural' disasters fuel demand for insurance cover

Source(s): China Daily
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photo by Flickr user dcmaster, CC attribution-noncommercial-share alike 2.0 generic
photo by Flickr user dcmaster, CC attribution-noncommercial-share alike 2.0 generic

"Around 30 percent of the losses from catastrophes in developed countries are covered by insurers, while the percentage is lower than 5 percent in China," said Wei Yingning, vice-chairman of the China Insurance Regulatory Commission. "China should establish catastrophe insurance as soon as possible," he said.

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Document links last validated on: 16 July 2021

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Themes Insurance and risk transfer
Country and region China
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