Group 1 - The 2025 West Lake Half Marathon is officially certified by the Chinese Athletics Association as an A1 class event, featuring a unique course that connects famous scenic spots in the West Lake area [1] - ZhongAn Insurance serves as the official sponsor, providing a total insurance coverage of 9 billion yuan, which includes personal accident insurance, public liability insurance, and medical accident insurance for all participants and staff [1][4] - The event aims to enhance the runner experience by offering comprehensive insurance services and engaging activities at the event site, creating a supportive atmosphere for participants [2][4] Group 2 - ZhongAn Insurance has been actively involved in the marathon sector, having provided group accident insurance and public liability insurance for over 80 marathon events, covering more than 1 million participants, volunteers, and staff [6] - The company has developed a tailored insurance product called "ZhongMin Bao Marathon Version," which addresses the insurance gaps for athletes by combining sports and medical coverage [6][7] - The insurance product retains advantages such as no health declaration, support for pre-existing conditions, and zero deductible, while also covering specific risks associated with long-distance running [7] Group 3 - ZhongAn Insurance has established a comprehensive sports insurance system that caters to both popular and niche sports, addressing the unique needs of various athletic activities [8] - The company has launched specialized insurance products for high-risk sports, such as skiing, and has seen significant growth in this segment, with a compound annual growth rate of 285% over three years [9] - The company aims to collaborate with sports associations and event organizers to enhance risk coverage across all aspects of sports events, promoting greater awareness and accessibility of sports insurance [9]

Core Viewpoint - The recent issuance of the "Guiding Opinions on Financial Support for the High-Quality Development of the Sports Industry" by the People's Bank of China and other departments aims to enhance insurance coverage for the sports industry, encouraging the insurance sector to develop tailored products for sports events and athletes [1][3]. Policy Support - The document encourages the introduction of more commercial insurance products for the sports industry, highlighting the growth in road running events, which reached 749 events and 7.05 million participants in 2024, a year-on-year increase of 1 million participants [2]. - There is a need to expand traditional accident insurance to cover high-risk sports like marathons and ice sports, addressing common injuries and rehabilitation services [2]. Current Insurance Landscape - Currently, there are over 100 accident insurance products related to "sports," but only about 10 products specifically for sports events, such as event cancellation insurance and group accident insurance [4]. - The insurance market for athletes includes around 20 products, including disability insurance and accident recovery medical insurance [4]. International Experience - Major sports events face significant risks, including event cancellation due to adverse weather, security threats, and public health issues. The International Olympic Committee has historically purchased substantial cancellation insurance, such as $1.7 billion for the Athens Olympics [6]. - The reliance on digital technology in sports events introduces cybersecurity risks, necessitating independent cyber risk insurance for data breaches and operational disruptions [7]. Future Innovations - Recent innovations in sports-related insurance include a lifelong insurance project for Olympic medalists, providing monthly payments based on medal type after retirement [10]. - New products like "Sports Accident Worry-Free Insurance" have been launched to cover high-risk sports, addressing gaps in traditional accident insurance [10][11]. - The industry is encouraged to collaborate with sports associations and event organizers to develop comprehensive risk coverage for personnel, events, venues, and logistics [11].