A firm in Tibet has launched the country's first insurance policy covering riot damage, the Yangcheng Evening News reported on Monday.

The policy, offered by the Tibet branch of PICC Property & Casualty Co Ltd, provides cover for companies that have property damaged in riots and public unrest, the newspaper said on its website.

As of Thursday, seven firms had taken out the policy, the annual premium of which is 75,600 yuan (US$10,800) and which provides coverage of up to 24.6 million yuan", the paper said.

"The product was released after the incident in Lhasa last month," an employee on the PICC service hotline said.

Only a few policies have so far been sold "but we are expecting more interest over time", the employee said.

According to official figures, more than 900 stores and 120 houses were damaged in last month's riots in Lhasa, at a cost of about 250 million yuan.

The Tibet government has promised help to repair or rebuild all properties damaged in the riots.

Duan Xiangzheng, director of the regional administration for industry and commerce, said recently: "The government will provide interest-free or subsidized loans to help businesses get back on their feet."

And, anyone who was injured in the riots will be given free medical treatment, he said.

The riots also led to the deaths of 19 people. The families of two women who were killed in an arson attack during the March 14 Lhasa riots have each been paid 200,000 yuan in compensation, the Tibet regional government said.

The government earlier promised to give the same amount to each of the families of the 18 civilians who lost their lives in the unrest.

(Xinhua News Agency April 8, 2008)