Huatai Insurance Company has received approval from the China Insurance Regulatory Commission to offer broad pollution coverage in China.
Huatai CEO Zhao Ming Hao commented in a press release, "We are very pleased to be the first local Chinese non-life company to provide this product for our clients throughout China, using our extensive branch network. We believe that there will be significant demand for this product in the future."
Huatai has worked closely with Chinese regulatory officials to develop coverage for both first-party clean-up and third-party claims for pollution conditions associated with operations or investments in China, with limits up to US$25 million.
Huatai Insurance Company of China Limited was formed in 1996 and was the fourth nationally licensed non-life company in China. Huatai has a national license to provide property and casualty products through its network, which covers 18 provinces and municipalities in China.
