China Hainan Rubber Industry Group Co., Ltd. Announced that it has received all the insurance indemnity of 96,880,659.26 yuan for wind damage.
According to the announcement, due to typhoon Sarika in Oct. 2016, 25 bases and subsidiaries of Hainan Rubber suffered a variety of losses.
With respect to the rubber tree comprehensive insurance agreement signed between the Hainan branch of PICC and Hainan Rubber, they agreed the insurance indemnity for this disaster to be 96,880,659.26 yuan.
All the indemnity was paid on Dec. 14, 2015. Before that, Hainan Rubber had received an advance payment of 20,000,000 yuan.
Hainan Rubber said the money will be taken as special payable, specifically for compensating the losses induced by the wind damage and post-disaster cleaning.
