As of 9:00 a.m. on July 13, the insurance industry had received more than 350,000 reports and paid 2.86 billion yuan in 20 provinces including Guangxi, Hubei, and Zhejiang due to recent torrential rains, floods and typhoon disasters. The State Administration of Financial Supervision and Administration requires insurance institutions to promptly open a fast claim settlement channel to promote quick claims, full compensation claims, and reasonable forecasting.

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