On July 31, the China Insurance Industry Association held its second regular press conference in 2026. Fang Yong, member of the Party Committee and Deputy Secretary General of the China Insurance Industry Association, explained that since May of this year, due to heavy rainfall and typhoons, disasters such as urban flooding, reservoir dams, and landslides have occurred one after another in Guangxi, Hubei, Gansu and other places. The insurance industry has given full play to the functions of economic shock absorbers and social stabilizers, and the entire chain has built a strong line of disaster prevention. Currently, in response to natural disasters such as torrential rain, floods, typhoons, and earthquakes in 20 provinces, the insurance industry has received a total of 533,000 reports, estimated losses of 11.05 billion yuan, and paid 5.53 billion yuan, of which 5.21 billion yuan was paid for torrential rain, floods and typhoon disasters.

On July 31, the China Insurance Industry Association held its second regular press conference in 2026. Fang Yong, member of the Party Committee and Deputy Secretary General of the China Insurance Industry Association, explained that since May of this year, due to heavy rainfall and typhoons, disasters such as urban flooding, reservoir dams, and landslides have occurred one after another in Guangxi, Hubei, Gansu and other places. The insurance industry has given full play to the functions of economic shock absorbers and social stabilizers, and the entire chain has built a strong line of disaster prevention. Currently, in response to natural disasters such as torrential rain, floods, typhoons, and earthquakes in 20 provinces, the insurance industry has received a total of 533,000 reports, estimated losses of 11.05 billion yuan, and paid 5.53 billion yuan, of which 5.21 billion yuan was paid for torrential rain, floods and typhoon disasters.