Flooding in Northern China Triggers $23 Million of Insurance Claims

What’s new: Insurance companies in Beijing received more than 6,700 claims for 166 million yuan ($23 million) of damage and losses from the torrential rains that hit northern China.

The insurance claims include 133 million yuan for damage to cars and 24 million yuan for damage to business properties. Most of the claims came from the Mentougou and Fangshan districts in the hard-hit hilly areas of southwest Beijing, according to the Beijing Bureau of the National Administration of Financial Regulation.