巨灾保险织就民生防护网

Core Insights - The fourth National Commercial Insurance Development Seminar highlighted the need to improve the insurance industry's role in major disaster relief, emphasizing the enhancement of compensation ratios for disaster losses and the transfer of risks for enterprises, families, and individuals [1] Group 1: Current State of Disaster Insurance - As of the first three quarters of 2025, natural disasters in China caused direct economic losses of 217.65 billion yuan, with the most significant losses occurring during the "July to August" period [1] - The comprehensive catastrophe insurance pilot has been implemented in over 20 provinces and cities, with various models such as all-cause coverage in Hebei and Hubei, and disaster index insurance in Guangdong [2] - By the end of September 2023, the catastrophe insurance from China People's Property Insurance Company covered 23 provinces and 137 cities, protecting a population of 459 million [2] Group 2: Regulatory Developments - In March 2024, the National Financial Supervision Administration and the Ministry of Finance issued a notice to expand the coverage of urban and rural residential catastrophe insurance, enhancing the basic coverage levels [3] - The State Council's September 2024 opinions aimed at promoting high-quality development in the insurance industry included measures to enrich catastrophe insurance forms and develop catastrophe risk models [3] - In October 2025, a notification was issued to support domestic insurance companies in issuing insurance-linked securities in the Hong Kong market, broadening the path for insurance risk securitization [3] Group 3: Future Outlook - The National Financial Supervision Administration plans to advance the top-level design of catastrophe insurance, improve the protection system, and coordinate with relevant departments to enhance the service functions of insurance in disaster prevention, emergency rescue, and timely compensation [4]