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Member, Beacon International Group, Ltd.
During a recent China-E.U. food safety liability insurance seminar in Beijing, officials said several Chinese insurers are actively exploring food safety liability insurance and have developed more than 30 types of such insurance products, Hexun.com reported.
Officials said implementing liability insurance in the food safety segment would be beneficial in safeguarding consumers' interests and improving food businesses' reputation among consumers, among other things. They also highlighted the low coverage rate for this type of insurance in China.