Core Viewpoint - The introduction of a dual insurance model combining "temperature index derivatives" and "meteorological index insurance" aims to protect tea farmers in Wanyuan City from climate risks, particularly high temperatures, thereby enhancing their income and financial security [5][6][9]. Group 1: Financial Innovation - The "temperature index derivatives" project, initiated by Guotou Futures and Industrial and Commercial Bank of China, quantifies high-temperature risks into a transparent numerical curve, allowing tea farmers to hedge against climate-related losses [5][6]. - The project includes a financial support of 100,000 yuan from Guotou Futures to alleviate the cost burden on cooperatives participating in the derivatives trading [6]. - The meteorological index insurance covers 10,000 acres of tea plantations, with a total premium of 990,000 yuan, where 792,000 yuan is donated by the bank [6][7]. Group 2: Risk Management - The dual insurance model creates a closed-loop risk management system, where temperature index derivatives cover systemic high-temperature risks, while meteorological index insurance addresses localized climate variations [9][11]. - The flexibility of temperature index derivatives allows for diverse trading forms and efficient settlement, while meteorological index insurance provides precise coverage with minimal basis risk [7][9]. Group 3: Industry Impact - The financial tools introduced are expected to transform traditional farming practices, enabling tea farmers to manage risks proactively and encouraging investment in expanding tea plantations [11]. - The integration of financial instruments into the tea industry is seen as a significant innovation that not only secures farmers' incomes but also promotes the standardization and scalability of tea production [11].