the first in the country! a package of reinsurance for policy-based catastrophe insurance is here
2024-09-14
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since the beginning of this year, natural disasters have occurred frequently in my country, and the development of the catastrophe insurance system has received increasing attention.
regarding catastrophe insurance, the state council recently issued the "several opinions on strengthening supervision, preventing risks and promoting high-quality development of the insurance industry", proposing to enrich the forms of catastrophe insurance protection. adhere to the principle of government promotion and market operation, and explore the establishment of a multi-channel and multi-level catastrophe insurance protection mechanism. expand the scope of catastrophe insurance protection. expand the pilot of comprehensive catastrophe insurance. research and develop and apply catastrophe risk models. research and explore catastrophe bonds. rationally use reinsurance to disperse risks. develop climate insurance. improve the insurance emergency service mechanism, improve risk reduction services, and support disaster prevention, mitigation and relief.
a financial times reporter learned that recently, china property reinsurance company limited (hereinafter referred to as "china re p&c") and china people's insurance company (hereinafter referred to as "picc p&c") jointly launched the country's first policy-based catastrophe insurance package reinsurance solution to help improve the country's catastrophe insurance protection system.
it is understood that this plan brings together the advantages of china re p&c and picc property and casualty insurance in terms of technology reserves, underwriting experience, and innovation capabilities, and jointly creates a comprehensive, three-dimensional, and multi-level risk diversification system, further enriching the forms of catastrophe insurance protection.
china re p&c and picc property & casualty insurance have long been actively involved in the construction of the national catastrophe insurance protection system, jointly promoted the construction of china's urban and rural residential catastrophe insurance system, and have a good cooperation foundation in many local catastrophe insurance pilots. both parties stated that they will take catastrophe insurance cooperation as a starting point to further participate in and improve the top-level design of catastrophe insurance, jointly promote the implementation of more policy-based catastrophe insurance pilots, lead with innovation to enhance the public safety governance capabilities of the whole society, and provide strong support for the high-quality development of the economy and society.
approved by the state council! official announcement by the ministry of finance!the china securities regulatory commission named the intermediary institutions: punishing one is a warning to a hundred!icbc, abc, boc, ccb and boc have all been approved! source: financial times clientfollow the financial times wechat account for more exclusive news and information
