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Guangzhou (CNS) -- The provincial environmental protection authority of Guangdong announced on Wednesday that a pilot pollution insurance plan is taking effect immediately. The plan was jointly released by the authority and the Guangdong Bureau of the China Insurance Regulatory Commission in early June.
Five industries with high environmental risks were included in the pilot phase: chemical companies, hazardous waste disposal firms, lead accumulator and secondary lead producers, heavy metal dischargers, as well as other major pollutant sources. The lower limit for pollution insurance is set at one million yuan (US$157,134).
Guangdong dealt with 27 serious pollution emergencies in 2011, causing huge financial and physical losses to local residents, not to mention steep crisis management fees billed to the government.
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