Ping An Insurance Company, Beijing Branch, paid out on an insurance
claim of 50,000 yuan (US$6,038) on April 22 for a client who had
died of SARS.
This is the first compensation case relating to SARS handled by a
Beijing insurance company.
However, around the country, more than 70 SARS sufferers or their
relatives have already received insurance compensation of more than
400,000 yuan (US$48,309). In south China's Guangdong Province,
300,000 yuan (US$36,231) has been paid out in 56 SARS cases.
China Insurance Regulatory Commission (CIRC) Beijing Office issued
a notice on April 17 requiring all insurance companies to deal with
cases relating to SARS promptly, practically and effectively and to
defend the benefits of SARS suffers and their relatives. No reason
would be acceptable to refuse or delay compensation.
The notice also said that any insurance companies found attempting
to evade their responsibilities in cases of SARS compensation would
be punished severely.
Wang Xianzhang, general manager of China Life Insurance Company
said his company had informed its 600,000 salesmen of this
regulation.
Two principal existing insurance policies are related to SARS: life
and health insurance. But eight insurance companies have already
developed special insurance policies focusing on SARS which have
been approved by the CIRC.
"The previous insurance policies for health and life are all
related to SARS cases. But now, clients now choose insurance
policies which focus specifically on the disease," said Yang
Jiheng, manager of China Pacific Life Insurance Co., Beijing
Branch, which was the first company to get approval for a special
SARS insurance policy.
(Xinhua News Agency May 14, 2003)
