China Insurance Regulatory Commission and Ministry of Environmental Protection are stepping up the drafting pace of the plan to implement the environmental pollution mandatory insurance, said Xiang Junbo, chairman of China Insurance Regulatory Commission, on Sunday.
Xiang said there are already 30 provinces, autonomous regions and municipalities carrying out the pilot projects. The key areas the insurance projects cover include heavy industry, heavy metal and chemical industry.
The total premium raised by environmental protection insurance reached 280 million yuan ($40.6 million) in 2016 and the value of insurance protection was 26 billion yuan.
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