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Insurers told to further explore rural market

By Hu Yuanyuan (Chinadaily.com.cn)
Updated: 2008-12-27 15:16

Developing insurance policies serving agriculture, peasants and rural areas will be one of the priorities for China's insurers in 2009, Wu Dingfu, chairman of the China Insurance Regulatory Commission said today.

At the end of November, premiums income of agriculture insurance hit 10.54 billion yuan ($1.54 billion), up 112 percent on a yearly basis.

Meanwhile, the regulator will strive to expand the micro-insurance program which features low premium and wide coverage. As of December, the program has covered 183,000 peasants in 9 provinces, bringing insurer a premium income of 31 million yuan.