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

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 ($10,800) and which provides coverage of up to 24.6 million yuan", the paper said.