The Chinese Insurance Regulatory Commission and Finance Ministry¹ jointly² issued a catastrophe³ home insurance plan last Monday.

中国保监会与财政部上周一联合印发了居民住宅巨灾保险制度实施方案。

According to the plan, 45 insurance companies have joined the program which will issue special insurance products providing post-earthquake compensation, especially focusing on residential⁴ homes.

据悉，目前已有45家保险公司加入。该方案将推出地震后赔偿的特殊保险产品，专门针对的是居民住宅问题。

The statement says in the first phase, the basic insurance coverage⁵ will be 50 thousand yuan for urban dwellers⁶ and 20 thousand yuan for rural ones.

该方案称，运行初期，城乡居民住宅基本保额分别为每户5万元、2万元。

The catastrophe insurance system is designed to ease the burden on the government and public finances.

巨灾保险制度旨在减轻政府与公共财政的负担。

A special insurance reserve fund supported by MOF will be set up, and legislation for the plan will be sped up, according to the plan.

根据该方案，财政部将设立巨灾保险基金，巨灾保险制度方案的立法程序将加快。

In China, post-disaster reconstruction⁷ is mostly financed by the state, or through public and private donations, while in the West, insurance has proven effective in dealing⁸ with the aftermath of such calamities⁹.

在中国，灾后重建主要是由国家资助，或通过公共和私人捐款完成的，不过在西方，用于处理这样的灾难后果的保险制度已被证明是可行的。