PICC paid 10m yuan within 36 hours of Yangtze shipping disaster
PICC, the insurer for the ship that capsized in the Yangtze river, had already paid out 10m yuan (£1m) within 36 hours of the tragedy.
The insurer's Chongqing branch paid the money to Chongqing Eastern Shipping, the owner of the distressed cruise ship the Eastern Star which capsized on 1 June; the ship was insured by PICC for 15.7m
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