Business Insurance

Login  |  Register Subscribe

cbVid =

China: Insurance claims from SK Hynix factory fire may reach $900 million

December 20, 2013 - 6:00am

The recent fire at SK Hynix Inc.'s semiconductors factory in Wuxi, China, caused losses worth an estimated $1 billion, and insurance claims related to the losses are likely to reach $900 million, reported.

The estimated insurance loss from the fire – which broke out in September – includes around $600 million in equipment loss and around $200 million in losses related to business interruption. Insurers likely to be affected include China Pacific Property Insurance Co. Ltd. and The People’s Insurance Co. of China Ltd., among others.

Read more


You may also want to visit

International Content