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Ji Jianming, owner of Siyuan Farm in Xinchang town, Pinghu, tends to flood-hit produce. [Photo/cnjxol.com]

Banks and insurance companies in Jiaxing, East China's Zhejiang province have prioritized claim settlements related to Typhoon In-Fa in recent days to ensure that compensation will be distributed to flood-hit residents as soon as possible.

"It's really good to be insured," said Ji Jianming, owner of Siyuan Farm in Xinchang town, Pinghu, where Typhoon In-Fa made its second landfall on July 26. "I called for compensation in the morning and in the afternoon, the money had already been sent to me."

During Typhoon In-Fa's stay in Pinghu, 13 of Ji's greenhouses were damaged and some of the produce was inundated by flood water, according to the farm owner.

He said that the compensation from PICC Property & Casualty will help the farm resume operations soon.

Typhoon In-Fa caused large losses to Pinghu's agriculture industry. In order to assist local farmers recover from the disaster, the Pinghu branch of PICC Property & Casualty dispatched staff members to local villages to assess losses and ratify compensation.

As of July 27, the Jiaxing branch of PICC Property & Casualty had received 1,257 claims related to Typhoon In-Fa, with a total loss of 4.88 million yuan ($750,000).