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Floods cause nearly $2 billion in economic losses

Posted On: Jun. 19, 2019 7:46 AM CST

China's Ministry of Emergency Management said that floods have caused nearly $2 billion in direct economic losses in nine provinces including Hunan, Jiangxi, Fujian, Guangxi, and Guangdong, Asia Insurance Review reported. Insured losses are expected to be limited due to low insurance penetration in the region.

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