（原标题：从"小众"到"标配"！超1700家A股公司抢投董责险，出险率上升倒逼市场变局） 董责险在A股上市公司的渗透率不断提升，已突破三成。 数据显示，截至2025年底，公告投保董责险的上市公司渗透率（累积投保董责险公司数/当年上市公司 总数）达到32%，同比提升4个百分点。 上海市建纬律师事务所高级顾问王民律师表示，这进一步体现了董责险在A股市场的广泛应用和市场认 可度的持续提升。与此同时，A股董责险的出险率正日益上升。 1700余家上市公司已公告 上述数据来自上海市建纬律师事务所、险律科技（北京）有限公司、明亚保险经纪股份有限公司近日联 合发布的《中国上市公司董责险市场报告（2026）》（下称《报告》）。《报告》显示，截至2025年 末，A股市场累积1753家上市公司公告披露购买董责险计划，较2024年末的1509家增长16%。 2025年，总共有643家A股上市公司发布公告披露购买董责险计划，同比增加19%，其中，256家公司为 2025年首次披露购买董责险计划。 自2019年以来，新《证券法》与新《公司法》的陆续施行对董责险在A股市场渗透率的快速提升起到了 很大的推动作用。 从行业来看，在2025年新 ...

董责险在A股上市公司的渗透率不断提升，已突破三成。 近日，上海市建纬律师事务所、险律科技（北京）有限公司、明亚保险经纪股份有限公司联合发布的 《中国上市公司董责险市场报告（2026）》显示，截至2025年底，公告投保董责险的上市公司，渗透率 （累积投保董责险公司数/当年上市公司总数）达到32%，同比提升4个百分点；A股市场累计1753家上 市公司公告披露购买董责险计划，较2024年末的1509家增长16%。 上海市建纬律师事务所高级顾问王民律师表示，2019年以来，新《证券法》与新《公司法》陆续施行， 对董责险在A股市场渗透率的快速提升起到了很大的推动作用。2025年的增长数据，进一步体现了董责 险在A股市场的广泛应用和市场认可度的持续提升。 据了解，董责险定价因素比较复杂，除了考虑市场竞争因素的影响，还需要综合考虑投保公司的行业环 境、股价表现、行政处罚、诉讼风险、公司治理、财务状况、宏观政治经济以及董监高个人情况等多种 因素。 从保额来看，目前A股上市公司董责险保单限额选择以4000万元~6000万元为主，其次是8000万元~1亿 元，而最常见的保单限额为5000万元与1亿元。 王民称，A股上市公司董责险 ...

Core Viewpoint - The number of listed companies purchasing Directors and Officers (D&O) insurance is on the rise, driven by increased regulatory scrutiny, heightened awareness of risk management, and the need to protect the rights of company executives and investors [1][2][3]. Group 1: Growth in D&O Insurance Purchases - Over 280 listed companies have disclosed the purchase of D&O insurance this year, with premiums ranging from tens of thousands to millions of yuan, and compensation limits between 10 million and 200 million yuan [1]. - The number of companies purchasing D&O insurance has shown an overall increasing trend, with projections indicating a rise in market penetration in the future [1][2]. - The number of companies disclosing D&O insurance purchases increased from 184 in 2020 to an expected 475 by 2024, indicating a recovery in 2024 after a slight decline in 2023 [2]. Group 2: Reasons for Purchasing D&O Insurance - Companies cite the need to protect the legal rights of their directors, supervisors, and senior management as a primary reason for purchasing D&O insurance, which also enhances corporate governance [2][3]. - The implementation of new company laws and increased regulatory enforcement have contributed to the growing awareness of risk management among companies [3][4]. Group 3: Coverage and Limitations of D&O Insurance - D&O insurance generally covers legal liabilities arising from non-malicious misconduct by executives, including breaches of trust, negligence, and misleading statements [3]. - However, D&O insurance does not cover all actions of executives; it primarily applies to claims based on negligence and must meet specific criteria to qualify for compensation [3][4]. Group 4: Future Outlook for D&O Insurance Market - The penetration rate of D&O insurance among listed companies is currently low, but it is expected to rise due to stricter market regulations and ongoing judicial practices [3][4]. - Insurance companies are encouraged to enhance their pricing strategies, clarify claims standards, and optimize service models to promote the development of the D&O insurance market [4].

Group 1 - The core viewpoint of the articles highlights the increasing trend of listed companies in China purchasing Directors and Officers (D&O) insurance, with 251 companies announcing their plans as of May 25, 2023, indicating a growing recognition of the insurance's importance in mitigating risks associated with executive responsibilities [1] - The number of listed companies disclosing D&O insurance plans has risen significantly from 184 in 2020 to an expected 475 by 2024, showcasing a notable upward trend in market penetration and acceptance of D&O insurance in the A-share market [1] - D&O insurance is becoming an effective risk management tool for executives, especially in light of high-profile cases where directors and officers faced substantial joint liability, alongside the strengthening of legal requirements for their responsibilities [2] Group 2 - Challenges to the expansion of D&O insurance include insufficient localization of products, complex terms that do not align well with domestic legal environments, and a lack of transparency in claims information, which complicates companies' decision-making processes regarding insurance [2][3] - Insurance companies are urged to enhance their risk assessment capabilities for D&O insurance, focusing on underwriting risks, claims risks, and market competition risks, while also improving their underwriting processes and clarifying claims standards [2] - The future outlook for the D&O insurance market suggests that increased judicial practices and more insurance payout cases will likely lead to a further rise in market penetration [4]