Group 1 - The importance of catastrophe insurance as an effective risk diversification mechanism is increasingly recognized, particularly in high-risk provinces like Sichuan, which provides valuable experience for the development of catastrophe insurance in China [1] - Sichuan's catastrophe insurance has evolved from pilot explorations post-2008 Wenchuan earthquake to a formal pilot launch in 2015, culminating in the new work plan for urban and rural residential catastrophe insurance set to be implemented in November 2024, which expands coverage and optimizes claims processes [1] - China Pacific Insurance has played a significant role in Sichuan's catastrophe insurance efforts, providing substantial risk protection and receiving high recognition from affected communities for its rapid response and compensation during disasters [1] Group 2 - Despite its late start, China's catastrophe insurance system has made significant progress, with Sichuan's practices demonstrating that catastrophe insurance serves not only as a risk diversification tool but also as a crucial safety net for livelihood protection and social stability [2] - The scope of catastrophe insurance coverage is expanding from single disaster causes to multiple causes, including typhoons, floods, and landslides, with some regions also providing personal injury liability coverage [2] - The integration of big data and artificial intelligence is enhancing risk assessment and early warning capabilities, shifting catastrophe insurance from a "post-event compensation" model to a "pre-event prevention" approach, while ongoing improvements in systems and regional experience sharing are expected to elevate service efficiency and coverage nationwide [2]