The China Banking and Insurance Regulatory Commission reported that deputy head Cong Lin visited flood-affected locations in Beijing and Hebei to inspect damage and oversee insurance claims and related financial services, calling on banks and insurers to speed up relief support for households and businesses. The on-site guidance focused on rapid loss assessment and rescue operations, fast-track claims handling and proactive customer outreach, with expectations to pay valid claims quickly, settle all due claims in full and provide reasonable advance payments. Banks were urged to strengthen credit support for affected farmers, micro and small enterprises and self-employed businesses, and to avoid indiscriminate loan recalls, suspensions or credit tightening while expanding inclusive finance services. Cong also highlighted that the current “late July to August” period remains a critical flood-control window, and called for closer monitoring of disaster information, stronger risk warnings and preparedness, and improved emergency support capabilities to respond promptly to any sudden incidents.
China Banking and Insurance Regulatory Commission 2025-08-04
China Banking and Insurance Regulatory Commission urges faster flood insurance payouts and continued lending in disaster-hit areas
The China Banking and Insurance Regulatory Commission reported that deputy head Cong Lin visited flood-affected areas in Beijing and Hebei to oversee insurance claims and financial services, urging banks and insurers to expedite relief support. The guidance emphasized rapid loss assessment, fast-track claims handling, and enhanced credit support for affected farmers and small businesses. Cong stressed the importance of monitoring disaster information and improving emergency support during the critical flood-control period.