Heavy rains have continued to fall in many parts of southern China recently, causing casualties and property damage from floods and geological disasters. As of last Friday (21st), 38 people had died and 2 were missing in the hardest-hit area of Pingyuan County, Meizhou City, Guangdong. The China Banking and Insurance Regulatory Commission (CBIRC) said on the 23rd that as of 12:00 on that day, insurance institutions in the affected areas had received a total of 18,400 reports, involving 619 million yuan (RMB) in claims, including auto insurance, commercial property insurance, agricultural insurance, accident insurance, and rural property insurance.

The CBIRC has recently issued a notice requiring the insurance industry to solidly carry out flood and drought disaster response and insurance claims services. The financial regulatory bureaus in Guangdong, Guangxi, Anhui, Fujian, Hunan, and other provinces have timely activated large-scale disaster response measures, requiring insurance institutions under their jurisdiction to coordinate and allocate financial service resources in accordance with the overall arrangements for flood prevention work made by local party committees and governments, and effectively play the role of the insurance industry in disaster prevention, rescue, and compensation before, during, and after disasters.

It is reported that various insurance institutions have deployed nearly 10,000 personnel and dispatched more than 5,000 survey and rescue vehicles to the disaster-stricken areas. At present, they have paid out or pre-paid a total of 105 million yuan, and all aspects of the claims work are progressing smoothly and in an orderly manner.