Insurance companies provide emergency support after landslide in Chongqing

(ECNS) -- A landslide struck along a section of the Wujiang River in Pengshui Miao and Tujia Autonomous County, southwest China's Chongqing Municipality on Friday, burying several residential buildings.

Following guidance from the National Financial Regulatory Administration, the Chongqing financial regulatory authority activated an emergency response mechanism and began assessing insurance coverage for those affected.

As of Monday, insurers have received 21 claims, with estimated losses totaling 19.7 million yuan (about $2.7 million). A total of 8.15 million yuan has been paid out, including advance compensation.

(By Kira)