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Home >> Business
UPDATED: 11:11, October 08, 2004
1st "wedding odds" insurance appears in Shanghai
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Shanghai insurance companies have launched a new service financially protecting the bride and groom against accidents at their wedding.

The"wedding odds" insurance was launched by Shanghai Association of Wedding and Ceremony Industry and China Ping'an Insurance Company during the week-long National Day holiday, whichbegan Oct. 1.

The insurance, which caters to the city's booming wedding market, covers mishaps such as food poisoning. The bride and groomcan get compensation of up to 180,000 yuan (21,770 US dollars) while guests can be compensated up to 20,000 yuan (2420 dollars) and have 5,000 yuan (605 dollars) of their medical costs covered.

According to China Ping'an, the newly married couple pays 29 yuan (3.5 dollars) for themselves and individual guests pay 1.5 yuan (18 cents) to have their wedding insured. This is the first insurance to specifically target China's huge wedding and ceremony market. China Ping'an is confident in surging demand andprofitability, said the company.

The number of marriages in Shanghai exceeds 100,000 every year,and the amount surges during holidays in China.

Chinese traditions value the smooth-sailing of weddings and bride, groom and wedding organizers all work to make everything perfect.

Currently, only members of Shanghai Association of Wedding and Ceremony Industry provide the insurance services to their clients,according to the contract signed between China Ping'an and Shanghai Association of Wedding and Ceremony Industry.

Source: Xinhua


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