The China Banking and Insurance Regulatory Commission issued a notice and convened a video meeting to direct regulators, banks and insurers to strengthen financial and insurance support for flood relief and post-disaster reconstruction after severe rain, strong winds and related disasters in several regions. The measures center on speeding up insurance loss assessment and claims settlement, maintaining basic financial services, meeting emergency funding needs and increasing credit support for affected areas. Financial regulators and major property insurers were told to closely track disaster developments, deploy survey and rescue resources more efficiently, simplify claims procedures and open green channels so that valid claims are paid quickly, fully and with reasonable advance payments where appropriate. According to the release, insurance institutions in Guangxi, Hubei, Hunan, Guangdong, Guizhou, Gansu, Chongqing, Jiangxi and Anhui had received 320,000 disaster-related reports tied to heavy rain and flooding, and had paid more than CNY 2.2 billion including advance payments.
China Banking and Insurance Regulatory Commission2026-07-09
China Banking and Insurance Regulatory Commission orders faster flood insurance payouts and reconstruction support as claims reach 320000
The China Banking and Insurance Regulatory Commission told banks and insurers to step up flood relief and post-disaster reconstruction support, with a focus on faster claims handling, basic financial services and credit support. Insurers were directed to simplify processes and use green channels for rapid and advance payments. In nine affected regions, insurers had received 320,000 flood-related reports and paid more than CNY 2.2 billion including advance payments.