WeSure launches protection plan for vendors and small businesses

Tencent's insurance agency platform WeSure unveiled on Friday the country's first business interruption protection plan for millions of vendors and small businesses, free of charge, aiming to help them thrive in the post-pandemic era.

The plan, co-launched by WeSure and PICC, will cover economic risks and losses caused by personal accidents, fires, rainstorms, typhoons and other natural disasters encountered in the course of business, as well as business interruption caused by the COVID-19 epidemic.

Vendors and small business owners across the country can make free reservations on WeChat and obtain this guarantee free of charge with their name, telephone number and ID card and there is no need to provide a business license.

Featuring wide coverage, low threshold for payment, and convenient and fast settlement of claims, the product aims to compensate for the economic losses caused by temporary closure due to unexpected circumstances, so that even the smallest businesses can operate at ease, WeSure said.

Within 90 days, the insured users can receive a guarantee of 300 yuan (US$42.3) at most, and can make another application to extend the guarantee time.