Insurance Companies Pay 120 Million Yuan in Flood Damage Claims Across Four Chinese Provinces

GateNews
According to China's Financial Regulator, insurance companies have paid 120 million yuan (approximately $16.7 million USD) in flood damage claims as of May 22 morning for torrential rains and flooding affecting Hubei, Hunan, Guizhou, and Guangxi provinces. Insurance institutions reported over 20,000 claims with total estimated losses of 510 million yuan, having rapidly activated expedited claims settlement channels.
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