The two departments issued a notice to expand the coverage of catastrophe insurance for urban and rural residents. The basic insurance amount of the expanded catastrophe insurance is 100,000 yuan per household for urban residential buildings.
The maximum insurance amount for each insurance policy shall not exceed 1 million yuan per Household. The amount above 1 million Yuan can be supplemented by commercial insurance provided by insurance companies. The China Urban and Rural Residential Catastrophe Insurance Pool can provide commercial insurance supplements to fully meet the differentiated risk protection needs of various regions.