Many places in Zhejiang province recently issued insurance for local companies to guard against risks caused by the epidemic.

On Feb 19, Ningbo issued the country's first epidemic prevention insurance policy targeting small and micro enterprises that are particularly vulnerable to challenges caused by the novel coronavirus outbreak.

Applicants can receive a maximum of 100,000 yuan ($14,925.3) on the condition that they have been forced to shut down due to the infectious disease.

The premium has been set at 2,000 yuan, half of which will be covered by government subsidies.

If an insured enterprise is required to shut down due to the disease, it will be granted 3,500 yuan per day and a maximum of 100,000 yuan in total.

In Qinshan sub-district in Haiyan county, Jiaxing, the local authorities cooperated with the People's Insurance Company (Group) of China Limited to issue an insurance policy for companies that covers part of their losses, employee salaries and isolation fees.

In Huangyan district in Taizhou, under the sponsorship of the local authorities, four insurers cooperated to launch a similar insurance policy, for which five local companies have applied.