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CHAPTER 19 Catastrophe insurance

Regulation of Insurance in China,The


Page 1159

CHAPTER 19

Catastrophe insurance

19.1 Introduction

China is one of the countries in the world with frequent natural disasters. The disaster statistics of the Ministry of Emergency Management of China show that in 2018, various natural disasters caused a total of 97,000 houses to collapse, agricultural crops affected by natural disasters amounted to 208.143 million hectares, and direct economic losses due to natural disasters were ¥264.46 billion yuan.1

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