Beijing Settles First SARS Insurance Claim

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Last updated at: (Beijing Time) Wednesday, May 14, 2003

Beijing Settles First SARS Insurance Claim

Ping An Insurance Company, Beijing Branch, paid out on an insurance claim of 50,000 yuan on April 22 for a client who had died of SARS.

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Ping An Insurance Company, Beijing Branch, paid out on an insurance claim of 50,000 yuan on April 22 for a client who had died of SARS.

This is the first compensation case relating to SARS handled by a Beijing insurance company.

However, around the country, more than 70 SARS sufferers or their relatives have already received insurance compensation of more than 400,000 yuan. In south China's Guangdong Province, 300,000 yuan has been paid out in 56 SARS cases.

China Insurance Regulatory Commission (CIRC) Beijing Office issued a notice on April 17 requiring all insurance companies to deal with cases relating to SARS promptly, practically and effectively and to defend the benefits of SARS suffers and their relatives. No reason would be acceptable to refuse or delay compensation.

The notice also said that any insurance companies found attempting to evade their responsibilities in cases of SARS compensation would be punished severely.

Wang Xianzhang, general manager of China Life Insurance Company said his company had informed its 600,000 salesmen of this regulation.

Two principal existing insurance policies are related to SARS: life and health insurance. But eight insurance companies have already developed special insurance policies focusing on SARS which have been approved by the CIRC.

"The previous insurance policies for health and life are all related to SARS cases. But now, clients now choose insurance policies which focus specifically on the disease," said Yang Jiheng, manager of China Pacific Life Insurance Co., Beijing Branch, which was the first company to get approval for a special SARS insurance policy.

Source:Beijing Today

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