In 2021, provide risk protection for 188 million households with a total of 4.78 trillion yuan—
Agricultural insurance escorts "agriculture, rural areas and farmers"
Our reporter Yu Yong
The No. 1 Central Document proposes to actively develop agricultural insurance and reinsurance.
Recently, the China Banking and Insurance Regulatory Commission issued the "Administrative Measures for Agricultural Insurance Underwriting Claims" (hereinafter referred to as the "Measures"), which further regulates the various links involved in agricultural insurance underwriting and claims.
Expansion and standard increase
In recent years, my country's agricultural insurance market share has continued to grow, and the coverage and penetration rate of agricultural insurance have continued to increase. my country has become the country with the largest agricultural insurance premium in the world.
According to the preliminary statistics of the National Agricultural Insurance Data Information System, the scale of agricultural insurance premiums in my country in 2021 will be 96.518 billion yuan, a year-on-year increase of 18.4%, providing a total of 4.78 trillion yuan in risk protection for 188 million farmers.
Among them, the central government allocated 33.345 billion yuan in premium subsidies, a year-on-year increase of 16.8%.
Guo Li, general manager of China Agricultural Reinsurance Co., Ltd., said that agricultural insurance, as an important means of dispersing the risks of agricultural production and operation, plays an important and positive role in promoting the development of modern agriculture, promoting the revitalization of rural industries, and ensuring farmers' income.
my country's vast territory, dominated by monsoon climate, frequent occurrence of natural disasters, coupled with the accelerated pace of agricultural modernization, market price risks have become increasingly prominent.
In June 2021, the executive meeting of the State Council decided to expand the scope of implementation of full cost insurance and planting income insurance for food crops.
"This policy requirement is a major measure to realize the high-quality development of agricultural insurance, and it is a key step in realizing my country's agricultural insurance from 'guaranteeing cost' to 'guaranteeing income'. It is of great practical significance to ensure national food security." Guo Li said.
The reporter learned that in 2019, the pilot program of the full cost insurance and income insurance of the three major grain crops will be launched. In the past three years, a total of 2.27 million households of grain farmers have provided 17.9 billion yuan of risk insurance for 20.13 million mu of grain fields planted in 8 provinces. It improves the ability of grain farmers to resist agricultural risks and eliminates the worries of grain farmers.
This year's No. 1 Central Document proposed for the first time to explore the development of full cost insurance for sugar cane and insurance for planting income.
Industry insiders generally believe that the pilot varieties of full cost insurance and income insurance have been expanded from the three major grain crops to sugar crops. important manifestation.
China is one of the major sugar producers and consumers in the world, and its domestic sugar cane sugar production accounts for more than 80% of the total sugar production.
Therefore, the healthy development of the sugar cane industry is crucial to ensuring domestic food safety and the supply of important agricultural products.
The introduction of sugar cane full cost insurance and planting income insurance can further improve the ability of the sugar cane industry to resist various production and market risks. The risk of the sugarcane industry guarantees the supply, effectively smoothes the loss of various risks to the immediate economic property of the sugarcane farmers, effectively protects the enthusiasm of the sugarcane farmers for planting, and promotes the high-quality development of the sugarcane industry.
Reinsurance continues to grow
The characteristics of agricultural production determine that agricultural insurance has the characteristics of high operating costs and complex risk management.
Especially with the continuous increase in the coverage and penetration of agricultural insurance, despite the support of the central government, the reinsurance reinsurance mechanism still needs to intervene to share the underwriting risks.
In 2020, China Agricultural Reinsurance Company was established, which is the only professional agricultural reinsurance company in China.
Chinese farmers are repositioned as the foundation and core of the financially supported agricultural catastrophe risk dispersion mechanism. The basic function is to disperse the agricultural catastrophe risk, promote the establishment and overall management of the national agricultural insurance catastrophe risk fund, strengthen the sharing of agricultural insurance data and information, and undertake The relevant national policies for supporting and benefiting farmers.
According to Guo Li, in 2021, China Agricultural Re-insurance will sign a standard reinsurance agreement with 35 agricultural insurance underwriting institutions to undertake 20% of the industry's agricultural risk protection, with a premium scale of more than 19 billion yuan, providing nearly 1 trillion yuan of risk protection for agricultural production. It has served 188 million farm households, and comprehensively enhanced the security capability and resilience of my country's agricultural reinsurance.
Last year, extreme weather and natural disasters occurred frequently, which had a great impact on agricultural production.
In response to the extreme rainstorms in Henan, Shanxi and other places and the large-scale heavy rainfall disasters caused by the typhoon "fireworks", Chinese farmers closely tracked the disaster losses and paid in advance to the local professional agricultural insurance companies that were greatly adversely affected. Indemnity, to ease the cash pressure of quick payment, a total of more than 1 billion yuan for planting insurance business in Henan, Zhejiang, Shanxi, Ningxia and other provinces that have experienced major disasters. Agricultural Insurance Market.
In addition, China Property and Casualty Reinsurance Co., Ltd. has also developed a number of local agricultural product insurance products.
In 2021, China Re Property & Casualty will provide reliable risk diversification support for local famous, special and high-quality and pillar agricultural products through the research and development and pilot projects of various highlight products such as Kunming Flower Price Insurance and Hebei Raoyang Grape Weather Index Insurance. 10 million yuan.
Although my country's agricultural insurance and reinsurance have achieved considerable development, compared with the international advanced level, there is still room for improvement.
"We will improve the industry's leading level from the perspectives of product development, actuarial pricing, underwriting claims, and technology application, and strive to create new momentum for the development of the domestic agricultural insurance market, realize new values, and help my country transform from a big country in agricultural insurance to a strong country in agricultural insurance. Zhang Renjiang, general manager of China Re Property & Casualty, said.
The regulatory system has been continuously improved
With the continuous development of agricultural insurance, the laws, regulations and regulatory systems related to agricultural insurance are also constantly being improved.
The promulgation of the "Insurance Law of the People's Republic of China", "Regulations on Agricultural Insurance", and "Interim Measures for the Administration of Agricultural Insurance Underwriting and Claims" also help to standardize agricultural insurance business practices.
According to the relevant person in charge of the China Banking and Insurance Regulatory Commission, the newly issued "Administrative Measures for Agricultural Insurance Underwriting and Claims" further regulates agricultural insurance behaviors from four aspects.
The first is to focus more on serving "agriculture, rural areas and farmers".
For example, the expression "should respect the laws of agricultural production" is added, the time limit for damage determination is further shortened, and the requirements for inspection images are refined, so as to effectively protect the rights and interests of insured farmers.
The second is to add forest insurance as the object of adjustment.
The "Interim Measures for the Administration of Underwriting and Claims of Agricultural Insurance" stipulates that forest insurance business is separately stipulated, and the "Measures" include forest insurance into the adjustment scope.
The third is to strengthen or refine relevant regulations.
For example, the content and requirements of insurance information should be further clarified, the inspection content of the underwriting target should be divided into different insurance categories and stipulated, the time limit for determining the loss should be unified, and the arbitrage of insurance premium subsidies should be explicitly prohibited.
The fourth is to highlight insurance technology and other related content.
Combined with the latest development trends of agricultural insurance in recent years, relevant provisions such as onlineization, technology empowerment, and information security have been added.
It is worth mentioning that the "Measures" aim to improve the level of professional, refined and intensive development, and better serve the overall situation of economic and social development, and manage agricultural insurance underwriting claims in terms of service capabilities, technological empowerment, and information security. clearly stipulated.
In terms of technology empowerment, insurance institutions are required to increase investment in technology, adopt online and information-based means, and improve the ability and efficiency of underwriting and claims settlement services.
In terms of information security, the "Measures" propose that insurance institutions should do a good job in protecting agricultural insurance information and data in strict accordance with laws, regulations and regulatory provisions, and insurance institutions should keep confidential data such as personal privacy and personal information that are known in the course of business development. , shall not be leaked or illegally provided to ensure the security of information systems and data.
In the long run, the promulgation of the "Measures" will continue to deepen the supply-side structural reform of agricultural insurance, promote the standardized operation of agricultural insurance, optimize services, improve efficiency, accelerate the high-quality development of agricultural insurance, and better serve my country's "agriculture, rural areas and farmers". cause.