PICC provides RMB 1.7 bln insurance policies for Chinese athletes

The People's Insurance Company (Group) of China (PICC) said that it has provided RMB 1.7 billion worth of personal accident insurance policies for the Chinese athletes during the upcoming Olympic Games and Paralympic Games, which means RMB 1 million per person.

As part of its entire insurance system for the Olympics, PICC also provided an insurance policy for the Nest worth RMB 3.45 billion, which is 1.5 times of the total cost of the stadium.

The building with the highest insured amount is the “bird’s nest” Olympic stadium, which was insured for RMB 3.45 billion.

Wang He, vice president of PICC Property and Casualty Co and head of the insurance committee for the Beijing Olympic Games, said the insurance system will cover the entire Beijing Olympics and the Paralympic Games activities, personnel and property.