Shanghai insurance companies have launched a new service financially protecting the bride and groom against accidents at their wedding.
The"wedding odds" insurance was launched by Shanghai Association of Wedding and Ceremony Industry and China Ping'an Insurance Company during the week-long National Day holiday, whichbegan Oct. 1.
The insurance, which caters to the city's booming wedding market, covers mishaps such as food poisoning. The bride and groom can get compensation of up to 180,000 yuan (US$21,770) while guests can be compensated up to 20,000 yuan (US$2420) and have 5,000 yuan (US$605) of their medical costs covered.
According to China Ping'an, the newly married couple pays 29 yuan (US$3.5) for themselves and individual guests pay 1.5 yuan (18 cents) to have their wedding insured. This is the first insurance to specifically target China's huge wedding and ceremony market. China Ping'an is confident in surging demand and profitability, said the company.
The number of marriages in Shanghai exceeds 100,000 every year, and the amount surges during holidays in China.
Chinese traditions value the smooth-sailing of weddings and bride, groom and wedding organizers all work to make everything perfect.
Currently, only members of Shanghai Association of Wedding and Ceremony Industry provide the insurance services to their clients, according to the contract signed between China Ping'an and Shanghai Association of Wedding and Ceremony Industry.
(Xinhua News Agency October 8, 2004)
