1 year ago
On a date
3 Aug 16’
WILL 2016 SET A RECORD FOR CHINA AGRICULTURAL INSURANCE?
China has suffered deeply from floods in 2016 and, this weekend, what flooded the China news was the tragedy occurring in Xing Tai of Hebei province. Dozens of people lost their lives and many more lost their life-long accumulated assets.
During the past few weeks, we observed the flood risk in China, from South to North, destroyed quite a few major agricultural output areas; though there are no statistics available yet, people in China agriculture insurance have enough reason to worry about the magnitude of loss already.
Most (if not all of the China agriculture insurance policies are valid from March to April of each year, and the flood loss would have been fully covered (with no deductible) by these policies. On one hand, China will be lucky as this is one of the first times that the insurance coverage against such losses will be a major force to provide financial recovery; on the other hand we have a pretty good chance to witness a record loss ratio of nationwide.
Posted 1 year ago by admin