Home > News > World
Thursday March 27, 2014 MYT 11:20:02 AM
Thursday March 27, 2014 MYT 11:23:01 AM
SHANGHAI (Reuters) - Chinese regulators have told the country's two largest insurers to stop selling coverage against smog, a week after such policies were launched, the China Daily reported on Thursday.
The newspaper did not say why the country's insurance watchdog had ordered People's Insurance Company of China (PICC) and Ping An Insurance Group to cease sales of the coverage.
The country's worsening air quality is at the top of the list of concerns of China's leaders, anxious to douse potential unrest as a more affluent urban population turns against a growth-at-all-costs economic model.
PICC last week offered coverage to Beijing residents against health risks caused by air pollution in the city, promising to pay 1,500 yuan (145 pounds) to policy holders hospitalised by smog. It also said it would pay 300 yuan if the city's official smog index exceeded the hazardous 300 level for five consecutive days.
Ping An had partnered with an online travel agency to sell pollution insurance to travellers that allowed them to get compensation of up to 50 yuan per day if they spent at least two days in a smog-filled city.
Both firms said policies that had already been sold would be honoured, the China Daily reported.
Beijing's official air quality index (AQI), which measures airborne pollutants including particulate matter and sulphur dioxide, routinely exceeds 300, and sometimes hits levels higher than 500.
The capital is on the frontline of a "war on pollution" that Premier Li Keqiang declared earlier this month in a major policy speech. Beijing is choked by traffic and surrounded by the big and heavily polluted industrial province of Hebei.
(Reporting by Fayen Wong; Editing by Joseph Radford)
China vows 'harsh punishment' for toxic smog culprits
China's thick smog arrives in Japan
China probes official of state-owned insurance firm for graft
China party mouthpiece says no Internet freedom without order, as U.S. TV shows pulled
China milk powder crackdown is tough medicine for doctors, sales reps
U.N. chief praises Ebola nurses, pledges support during visit
China's Xi preaches diversification in gambling hub Macau
North Korea proposes joint probe with the U.S. into Sony cyber attack - KCNA
Turkish court issues arrest warrant for U.S.-based Erdogan rival, media reports
Ladies, time to stand up and fight for your man
Looking out for your ears
Spa Village Pangkor Laut wins “Men’s Spa of the Year”
Chen Long a step closer to Superseries Finals title
Out to spread joy with Christmas carols
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)