Special report: Strong Earthquake Jolts SW China ¡¡¡¡

    BEIJING, May 17 -- The most powerful earthquake in China since 1950 shows the nation's insurance industry is decades behind those of the world's biggest economies.

    Just 5 percent of the more than 20 billion U. S. dollars of damages from the quake in Sichuan Province is covered by insurance, according to estimates from an official at the China Insurance Regulatory Commission, Bloomberg News reported.

The most powerful earthquake in China since 1950 shows the nation's insurance industry is decades behind those of the world's biggest economies.  (Xinhua Photo)Photo Gallery>>>

    By contrast, about half of the 120 billion dollars of estimated costs from Hurricane Katrina, the most expensive storm in United States history, was insured by com...

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