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China's insurance industry received 295 earthquake insurance claims after the 7.0 magnitude earthquake hit Lushan county, Ya'an city in China's Sichuan Province on Apr. 20, reports JRJ.com.
Insurers accelerated prepaid compensation; Yingda Taihe Property Insurance Co. Ltd. prepaid Sichuan Electric Power Co. Ltd. 10 million yuan ($1.6 million) in grid loss claims. Pacific insurance prepaid compensation to customers within two hours of the first earthquake in Ya'an.