Special insurance runs into billions
10/10/2007 13:49
Shanghai Daily news
Insurance for people attending the Shanghai Games has set new records for the
Special Olympics. The China Insurance Group has provided cover for 14 items,
including accident insurance, property insurance and travel insurance, for
70,000 people. The policies are underwritten by three companies in the group
- Taiping Life Insurance Co Ltd, the Tai Ping Insurance Company and Ming An
Insurance Company. The total sum insured is 160 billion yuan (US$21 billion),
the average personal cover is US$100,000 and the highest is US$30
million. The number of items covered, the number of people covered and the
total sum insured are all Special Olympics records, the group said. "The
service for the Games is very different from the business we have covered
before, thus the companies have made new products especially for it," said Shen
Nanning, a spokesman for the group. Representatives have been on hand outside
the stadiums to help delegations and their families. The companies have dealt
with 175 claims, 87 percent of which were for injuries. The staff members of
the companies have been well trained to accept claims and deal with them. "We
promised the Games that our service would be loving, professional and convenient
to access," said Shen.
|