董责险市场升温 背后仍有痛点难点待解

Core Viewpoint - The value of Directors and Officers (D&O) insurance is evolving from a mere risk transfer tool to a more diversified asset, with increasing recognition of corporate governance effectiveness in China [1] Group 1: Market Overview - Over 300 listed companies have disclosed their D&O insurance plans as of July 18 this year, indicating a growing trend in the market [1] - The new Company Law, effective July 2024, establishes the D&O insurance system through legislation, significantly boosting companies' enthusiasm for purchasing insurance [2] - The D&O insurance market has substantial growth potential, driven by stricter regulations, increasing investor claims, and emerging risks such as ESG and cybersecurity [2] Group 2: Challenges in the Market - There is a significant gap in penetration and purchase rates of D&O insurance in China compared to mature overseas markets [2] - The lack of judicial precedents makes it difficult for insurance companies to accurately assess the responsibilities of directors and officers under the new Company Law [3] - The current information disclosure system for D&O insurance is inadequate, leading to a lack of transparency in purchasing and claims, which hinders market development [3] Group 3: Solutions for Market Development - To address the supply-demand mismatch, it is suggested to implement mandatory information disclosure rules for listed companies regarding premiums, coverage, and claims [4] - Regulatory bodies and insurance associations should develop model clauses to clarify exclusions related to intentional acts and administrative penalties, reducing disputes [4] - Insurance companies are encouraged to establish dedicated teams for underwriting and claims management, as well as to create an industry-wide risk database for differentiated pricing [4]