Beijing (People's Daily) - The ongoing China International Import Expo (CIIE) in Shanghai is the world’s first import-themed national-level expo, dazzling audiences worldwide with the influx of such futuristic technologies as an unmanned warehouse, robots collaborating with men, smart factory of Internet of Everything, dressy clothes and diamonds.
Photos: VCG
However, concerns arise in the meantime: what if those pricey—if not priceless—exhibits are damaged in transit, or are lost when on exhibit?
Out of the concern above, CIIE organizers have set up a safety net that involves an insurance package worth 185 billion yuan ($26.7 billion) in addition to top-level security measures.
The full-coverage insurance security plan will last the whole CIIE, according to the agreement signed between the CIIE Bureau together with the National Exhibition and Convention Center and China Pacific Property Insurance, as well as China Life Insurance.
China Pacific Property Insurance offers a package of insurance services for property, liability, intellectual property rights and cyber security. It also provides support for media work packs. China Pacific assumes the risks concerning personnel, property and liability for the six-day CIIE, with the total insured amount reaching 35 billion yuan ($5 billion). Services of full-cycle risk solutions and whole-process risk management are also provided by China Pacific.
China Life Insurance offers accident insurance for all staff at the venue, volunteers, exhibitors, audience, and all media workers, with the insured amount reaching 150 billion yuan ($21.6 billion).
The two insurance providers guarantee the comprehensive insurance security of CIIE at 185 billion yuan ($26.7 billion).
The Diamond and Gems Theme Pavilion in Hall 5.1 has attracted about 192 exhibitors from 27 countries, including Australia, Russia, and Thailand, among which there are 21 countries along the Belt and Road. Exhibits in the pavilion include diamonds, colorful gems, amber, jade, pearls, finished jewelries and corollary equipment.
The pavilion is operated by one of the first construction clients of the Key Clients Ecosphere, Donghao Lansheng (Group) Co., Ltd. Overseas jewelries are insured by their foreign owners in case of loss and damage, and China Pacific exclusively underwrites their warehousing risk.
The insurance coverage of China Pacific affects all exhibits in the hall. The material loss during the exhibit can be compensated for up to five million yuan ($721,000) per exhibitor.
As for personnel safety, China Pacific provides personal accident insurance to journalists, which includes a 300,000 yuan (personal accident) + 50,000 yuan (medical accident) insurance solution. All consultations and claims settlements are conducted by specialized personnel.
In accordance with the activity features of the visitors and staff of CIIE, China Life Insurance provides accident insurance for over 500,000 people—338,000 yuan per person on average. In addition, the insurance covers medical costs and hospital allowance resulting from sudden illness-related death, injury or disability.
There is also insurance tailor-made for CIIE, which includes intellectual property rights insurance, cyber security insurance, and customhouse bonds insurance.
Cover image: Delegates at CIIE
(Compiled by Li Siying)