董责险投保热情持续升温。 7月1日，新修订的《中华人民共和国公司法》（下称"新公司法"）施行满一周年。一年来，董责险作为 上市公司治理的重要组成部分，市场规模显著扩大。据《国际金融报》记者不完全统计，今年上半年， 已有280余家A股上市公司发布拟购买或续保董责险的相关公告。董责险逐渐成为上市公司改善公司治 理和风险控制的"标配"。 在业内人士看来，新公司法的施行，为董责险市场发展提供了强有力的法律基础与制度保障。公司实控 人与董监高的法律责任风险进一步上升，相关主体对于转移其责任风险的投保需求也同步提高。 超280家上市公司投保 董责险，全称为董事、监事及高管责任保险，是以董事及高级管理人员对公司及第三人承担民事赔偿责 任为保险标的的一种职业责任保险。 中国企业资本联盟副理事长柏文喜在接受记者采访时分析称，对于企业而言，董责险可为管理层在履职 过程中可能面临的民事赔偿责任提供经济保障，从而降低企业因高管责任问题而面临的财务风险。同 时，引入董责险有助于完善企业的风险管理体系，促使企业更加注重内部控制和合规管理。在当前监管 趋严、高管责任风险上升的背景下，董责险也可作为企业吸引和留住优秀管理人才的重要福利措施， ...

Core Viewpoint - The newly revised Company Law in China has led to a significant increase in the number and coverage rate of Directors and Officers Liability Insurance (D&O insurance) among listed companies, with expectations for further growth by the end of the year [1][2]. Group 1: Increase in D&O Insurance Adoption - Nearly 300 listed companies have disclosed plans to purchase D&O insurance this year, with coverage expected to exceed 30% by year-end [1][2]. - The number of companies purchasing D&O insurance has surged due to heightened awareness of legal risks and increased accountability for executives [2][4]. - As of May 2025, the D&O insurance penetration rate among A-share listed companies has risen from less than 8% at the end of 2019 to 28.4% [3][6]. Group 2: Legal and Regulatory Influences - The revised Company Law, effective from July 1, 2024, explicitly encourages companies to purchase D&O insurance and mandates reporting to shareholders, providing a legal foundation for its adoption [3][4]. - Stricter regulatory requirements and a growing focus on corporate governance and ESG (Environmental, Social, and Governance) factors have contributed to the increased purchase of D&O insurance [4][5]. Group 3: Market Potential and Challenges - Despite the growth, the current D&O insurance coverage rate among A-share listed companies remains low, indicating substantial room for market penetration [5][6]. - Factors such as budget constraints, lack of risk awareness, and a tendency to underestimate potential risks hinder further adoption of D&O insurance among some companies [5][6]. - If the coverage rate reaches 85% by 2030, the total D&O insurance premiums could amount to 7.62 billion yuan from 2021 to 2030 [6]. Group 4: Claims and Coverage Limitations - D&O insurance typically covers claims arising from negligence or improper conduct by executives, but does not cover intentional illegal acts such as fraud [7]. - Understanding the policy terms and the specific risks covered is crucial for companies when purchasing and utilizing D&O insurance [7].