Last month the Mainichi News on-line reported the following:
毎日新聞 2014年04月03日 19時38分
with the air pollution
aggravating, insurance instruments to compensate for health impairment caused
by air pollution were put on the market by major insurance companies. But they
were forced to stop the sale in about one week; it was said that this was
because the insurance policy payout conditions were too severe, the authorities
ordered the sale to stop. China
A Chinese English paper the "China Daily" etc. reported it on March 27th. Putting the insurance on the market were two major Chinese insurance companies: the Chinese People Insurance and the China Common Security. Both with a specific city as the target, such as
the premium started from 78 Yuan (about 1300 yen). Beijing
For health impairment with air pollution as a cause, a maximum of 1500 Yuan insurance money would be paid, and payment would also be made when the concentration of the minute particulate matter "PM2.5" was in "severe contamination" of 250 micro-grams or more per cubic meter and had been in continuation for five days. The insurance was put on the market starting from the 17th of the same month.
However, in order to receive the payment of insurance money, one had to prove the cause-and-effect relationship between air pollution and health impairment. Moreover, one condition was that a contamination had been observed continuously at all the observation points in the city etc.
According to a
China media, it was said that to prove the
relation between health impairment and air pollution was difficult, and no severe
contamination could continue for five days at all the 12 observation points in . Beijing
For reasons that it was criticized as "not insurance but more like public lottery" and that it was difficult to actually receive the insurance money, the China Insurance Regulatory Commission ordered the sale to be stopped. Although the insurance companies had not clarified the number of contracts concluded, it was said that those insurance that already had a contract would be effective.
I agree with the observation that to prove the relation between health impairment and air pollution was difficult.