Ping An closes first insurance claim in quake-hit Yunnan

The first auto insurance claim has been compensated in earthquake-hit Yunnan province by China's Ping An Insurance, which is also the first insurance payouts in the industry after the 6.5-magnitude earthquake wreaked havoc in the region, China Securities Journal reported on Monday.

The car owner got a compensation of 9,600 yuan soon after the claim was dealt with, as of which the company received a total of eight auto insurance claims.

Ping An Insurance also decided to offer health insurance of up to 175 million yuan ($28.32 million) to 500 volunteers in the rescue operation, with each volunteer have 350,000 yuan of insurance against accidents, as a part of the company’s contingency plan for the earthquake.

The strong earthquake that happened at 4:30 pm on Sunday, with Ludian county as the epicenter, has so far caused at least 398 deaths, with more than 1,800 injured.