Ping An insures Liu Xiang for 14 million USD

In view of the Beijing 2008 Olympic Games, the Chinese athlete, world record man of the 110 m hurdle race Liu Xiang has just written a 100 million CHY (13.6 million USD) insurance policy with the company Ping An to cover accident or injury risks that may occur to him before the start of the competition.
Another insurance policy worth one million CHY (136 000 USD) has been contracted for the benefit of each of the other Chinese athletes. Making up for the inadequacy of the official cover, the recourse to private insurance is regarded as a novelty in China with record high costs.