Olympics: Chinese insurer may pay for Liu Xiang's injury

Wednesday, 20 August 2008

BEIJING - Insurance giant Ping An said on Tuesday the injury suffered by star Chinese athlete Liu Xiang might be covered by a 100-million-yuan (14.6-million-dollar) insurance policy it gave him for free.

Ping An donated the one-year accident coverage to Liu in October 2007 along with a separate 100 million yuan policy for the whole athletics team.

Ping An spokesman Sheng Ruisheng said the company was contacting China's sports authorities to find out more about the injury which forced Liu to withdraw from his 110m hurdles heat on Monday.

The 25-year-old world and Olympic champion blamed a long-standing tendon injury in his right foot.

"We haven't made a decision (on the payment) yet," he said. "We haven't got official confirmation of the nature of his injury."

If the injury was not considered accidental it would not be covered by the Ping An policy, Tuesday's Shanghai Daily reported, citing unnamed people at the company.

Liu is one of China's richest sports stars and celebrities. A survey by Forbes magazine last year estimated his annual income at around 23 million dollars.