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RMB484mil Disaster Relief and Expedited Insurance Payouts for Rain-Soaked Harvest

"Wet soil and waterlogged farmland have hindered the movement of agricultural machinery, negatively impacting harvesting, drying, and clearing stubble for wheat sowing," according to official Chinese news media. The Xinhua report proclaimed, "We must unite our efforts to protect autumn crops and strive to overcome disasters and achieve a bumper harvest!"

A Xinhua reporter claimed to see crawler-type harvesters working nonstop. Source: Xinhua.

A special meeting on agricultural insurance indemnities was held on October 10 to consider how to speed up insurance payments to farmers impacted by heavy rains in the Huang-Huai region of northern China. The meeting was held to address complaints about slow processing of agricultural insurance claims and low payouts. Insurance companies were instructed to expedite claims, use remote sensing and drones to verify losses, pay the full amount promptly, and ensure that grain is harvested and dried. 

The meeting was convened jointly by the Planning and Finance Office of China's Ministry of Agriculture and Rural Affairs (MARA) and the Property Insurance Supervision Department of the State Financial Supervision and Administration Bureau. Companies engaged in agricultural insurance attending the meeting were ordered to improve their sense of responsibility and level of service. The State Financial Supervision and Administration Bureau will monitor payouts and threatened companies slow to process claims with punishment. Companies attending including PICC Property & Casualty Insurance, CPIC Property & Casualty Insurance, China Property & Casualty Insurance, China Life Property & Casualty Insurance, Ping An Property & Casualty Insurance, Zhongyuan Agricultural Insurance, Guoyuan Agricultural Insurance.

China's Finance and Agriculture Ministries issued RMB 484 million (US$ 67 million) in agricultural disaster relief funds on October 11 to provinces impacted by heavy rains, according to the web site of the Ministry of Agriculture and Rural Affairs. Funds are to support early harvesting by agricultural machinery, drying of wet grain, drainage of farmland, and moisture-resistant sowing of winter wheat to ensure a good harvest of autumn grain and a good storage of every grain. Seven provinces received funds, including Hebei, Shanxi, Jiangsu, Anhui, Henan, Shandong, and Shaanxi.

Grain drying enterprise in Hebei Province. Source: Xinhua.


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