Asia recorded its lowest first-half insured catastrophe losses since 2017, but more than US$6bn in flood-driven economic losses in China underscored the region's significant protection gap.
China's insurers are processing thousands of claims following Typhoon Bavi's landfalls in Zhejiang, with Ping An, PICC and China Pacific reporting early losses and payouts.
Shenergy P&C, which underwrote the mine's work safety liability, has prepared an advance claims fund, while more than 50 insurers have activated fast-track processes to cover the policies of affected...
