Mil­lion yuan

China Daily (Canada) - - CHINA -

To­tal in­sur­ance pre­mi­ums for li­a­bil­ity in­sur­ance in the first three quar­ters in 11 prov­inces ($11 mil­lion) in 11 prov­inces,” said Shen Xiaoyue, head of the pol­icy of­fice at the Pol­icy Re­search Cen­ter for En­vi­ron­ment and Econ­omy, the min­istry’s think tank.

One crit­i­cism of the in­sur­ance in the past has been that com­pa­nies found it hard to draw on the in­sur­ance af­ter ac­ci­dents. For ex­am­ple, the com­pen­sa­tion rate for the in­sur­ance was only 4 per­cent of the money claimed in Sichuan prov­ince — very low to re­duce the com­pa­nies’ losses, said Li Xuan, a re­searcher at the cen­ter.

“To im­prove the draft for bet­ter im­ple­men­ta­tion in the fu­ture, we should solve sev­eral ma­jor prob­lems first,” said Shen.

Such prob­lems in­clude which com­pa­nies are con­sid­ered to pose high pol­lu­tion risks, the type of in­sur­ance prod­ucts for com­pa­nies and the en­act­ment of laws to force com­pa­nies buy in­sur­ance.

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