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Travel insurance grows in Shanghai

By Song Hongmei (chinadaily.com.cn)
Updated: 2007-04-12 09:04

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Shanghai's travel insurance has grown rapidly. There are 31 property and casualty insurance companies in Shanghai, 18 of which offer travel insurance policies, said an official with the China Insurance Regulatory Commission Shanghai bureau.

Travel insurance premiums in Shanghai last year amounted to 40.55 million yuan (US$5.55 million). Payouts and compensation stood at 58.64 million yuan, said Yang Yingqun, vice director of the Shanghai bureau.

Premiums from travel liability insurance taken out by travel agencies rose 29 percent to 58.25 million yuan. Premiums from travel accident insurance stood at 34.83 million yuan, more than double the figure for last year.

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The full text is available in the April Issue ofChina Insurance.