China Starts Offering Special Earthquake Insurance Policies

(Beijing) – More than 40 Chinese insurers have started selling special policies to cover earthquake damage to homes, as part of a government-backed push to develop the market for catastrophe insurance.

Starting this month, companies and individuals can buy earthquake covers from any of the 45 members of a consortium formed last year, Jiang Caishi, vice president of PICC Property and Casualty Co. Ltd, which leads the association, said on July 1 at a press conference.