The potential cost of insurance claims from the recent earthquake in China remains unclear as insurers move quickly to assess the damage.

The quake struck the Southern Qinghai region on April 14, prompting a swift response from the Qinghai insurance regulator to conduct indemnity investigations and set up local insurance services.

The China Insurance Regulatory Commission (CIRC) has ordered insurers to report catastrophe-related figures and underwriting figures on a daily basis since the event. So far, the quake has claimed 2064 lives and injured more than 12,000.

The CIRC estimates total insurance premiums for Yushu County, the area at the epicentre of the quake, at 1.33 billion yuan ($212 million).

Of this, property insurance premiums stand at 748 million yuan ($119 million), motor vehicle insurance at 316 million yuan ($50 million), liability insurance at 234 million yuan ($37 million), individual accident injury insurance at 23.9 million yuan ($3.8 million), and individual life insurance at 12.55 million yuan ($2 million), according to insurancenewsnet.com.

At the end of 2009, the Qinghai region reported total cumulative original premium income of 1.82 billion yuan ($290 million).

To date at least two claims resulting from loss of life have been made for sums of 170,000 yuan ($27,000) and 30,000 yuan ($4780).