Snowstorms expose under-insurance of China’s businesses

Only around 10% of companies is covered by insurance, limiting losses to insurers from the recent blizzards to $500mn

The recent snowstorm disaster has revealed that much of the industry in China, regarded by many economists as the world’s factory, does not have insurance protection at all. It shows that a much bigger market than envisioned by many experts remains to be tapped by international insurance companies.