The National Financial Regulatory Administration has issued directives to the insurance industry to enhance its response to recent flood disasters and improve claims services, with payouts to date totaling 2.89 billion yuan.

Recent heavy rainfall and strong winds in regions including Guangxi, Hubei, and Gansu have triggered incidents such as dam breaches and landslides, resulting in significant casualties and economic damage. Furthermore, Typhoon Bavi has brought severe rainfall across eastern, northern, and northeastern China, creating complex and challenging flood control conditions.

In response, the financial regulator has issued a notice concerning the provision of financial and insurance services for flood relief and post-disaster reconstruction. It has also convened video coordination meetings to urge the insurance sector to fully commit to supporting disaster response efforts.

As of 9 a.m. on July 13, insurance companies across 20 provinces, autonomous regions, and municipalities, including Guangxi, Hubei, and Zhejiang, have received nearly 380,000 claims related to the recent torrential rains, floods, and typhoon damage, with estimated losses amounting to 6.38 billion yuan. Insurers have activated expedited claims channels to facilitate swift, comprehensive, and reasonable advance payments, resulting in payouts of 2.89 billion yuan so far.

Specifically for Super Typhoon Bavi, insurers have received approximately 41,000 claims with estimated losses of 540 million yuan, of which 70 million yuan has been paid out.

Concurrently, insurance providers are actively supporting local disaster relief operations. They have sent nearly 240 million flood warning messages to corporate and individual clients and have deployed approximately 88,000 rescue personnel and 52,000 rescue vehicles to bolster emergency response efforts nationwide.