The insurance industry has paid out 120 million yuan in compensation for heavy rainfall and flood disasters in Hubei and four other areas.

As of 9 a.m. on May 22, insurance institutions have received over 20,000 reported cases and estimated losses of 510 million yuan related to the heavy rainfall and flooding disasters in Hubei, Hunan, Guizhou, and Guangxi. Insurance institutions have quickly opened up fast-track claims channels and have already paid out 120 million yuan. The notice requires all insurance companies to reduce risks, actively issue risk warnings to insurance clients, focus on key flood prevention and earthquake resistance measures such as vehicle relocation, equipment protection reinforcement, and personnel evacuation. They should actively urge the insured parties to conduct hidden danger investigations in key areas such as low-lying factory areas, underground spaces, and construction sites. At the same time, make good use of the results of risk investigations, carry out risk identification assessments and dynamic analysis, and implement and refine disaster response plans.