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China Launches Disaster Insurance Trials in 6 Cities Affected by Floods in 2021

June 28, 2022

China’s third-most populous province Henan will launch pilot programs for catastrophe insurance in six cities that were the hardest hit by historic floods last summer.

Aside from its capital Zhengzhou, trials are to be set up in the cities Anyang, Xinxiang, Hebi, Zhoukou and Xinyang, the provincial government said in a statement on Monday.

Local governments in typhoon-prone areas on the Chinese coast have taken on catastrophe insurance, but such insurance is largely still in its infancy in China, partly due to a lack of a central government push.

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