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PICC Offers Huge Insurance for Three Tenors Concert
The People's Insurance Company of China (PICC) said Thursday that it has been cooperating with the sponsor of the Three Tenors concert to guard against possible risks and damages on June 23.
The Three Tenors -- Luciano Pavarotti, Placido Domingo and Jose Carreras -- are to perform a concert inside the walls of Beijing's Forbidden City on Saturday.
A spokesman with PICC said the company would provide 110 million yuan (13.3 million U.S. dollars) worth of insurance for the Three Tenors concert, the largest sum ever by a domestic insurance company to cover such an event.
"China is speeding up its steps on reform and opening up to the outside world, and Chinese insurance companies are getting stronger and stronger to meet the diversified need of the insured, " he said.
According to him, PICC's insurance coverage includes the safety of the audience, performers, journalists, police and guests; employer liability insurance and insurance for deference or cancellation of the performance.
It may also cover natural disasters risks, like fire or an earthquake.
So far, PICC has urged the sponsor of the event, the China National Culture and Arts Co. Ltd, to hire experts in infrastructure construction, billboard placement and the draft of a second emergency plan.
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