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The Development of Catastrophe Insurance in China: An Exploration

China’s system of compensation for catastrophic loss has relied heavily on government relief and public donations; insurance has played a rather weak role. According to Chinese government figures, insurance claims in China have historically accounted for less than 1 percent of direct economic losses in major large-scale disasters.
Author:
Language: English
Pubished By: Global Facility for Disaster Reduction and Recovery (GFDRR) and The World Bank Group
Pubished date: July 2020

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