BEIJING: China guides banks and insurers to fully provide financial support services after a deadly fire in Hong Kong caused significant casualties and property damage, the nation’s financial regulator said on Saturday (Nov 29).
Insurance companies should handle claims and other procedures for disaster affected customers in a timely manner, and assist disaster affected residents in restoring production and life, the National Financial Regulatory Administration said in a statement.
State-owned Taiping Insurance Group, which has coverage exposure of the apartment complex where the fire took place, should guide relevant subsidiaries to play the leading role of insurance and reinsurance services, it said. – Reuters