Few Guizhou businesses purchase pollution insurance

Since the Guizhou Environmental Protection Department began a pilot program promoting environmental pollution liability insurance in October, just 53 of 489 targeted enterprises in the province have bought the insurance, the department announced on Wednesday.

Environmental pollution liability insurance targets businesses that could cause pollution and damage third parties, to help reduce their liability for compensation.

Among the 489 targeted companies in Guizhou, only 53 applied for the insurance, accounting for only 10.84 percent. Thus far, 2.47 million yuan ($400,923) of insurance premiums have been purchased, with the limit of liability at 131 million yuan.

Businesses in Guiyang, the capital city, spent the most on the insurance, and correspondingly have the highest limit of liability, while Zunyi topped the number of companies that bought the insurance.