Several Chinese insurers have begun offering new versions of their COVID-19 insurance policies as the country continues to fight rising infection rates.
According to a report by The South China Morning Post, Public Mutual Insurance and ZhongAn Online have both rolled out new versions of policies made to compensate for wages lost due to government-mandated quarantines. These policies, often called “quarantine insurance,” provide payouts based on the quantity of days one is required to stay in quarantine.
Previous versions of the policies had been pulled out by Public Mutual and ZhongAn following increased demand from customers growing anxious from Omicron awaybreaks, reported The Wall Street Journal. Many bought policies for “peace of mind,” seeking ways to mitigate losses due to China’s restrictive quarantine requirements which sometimes required persons to stay in state-kept facilities for several weeks at the same time.