Core Viewpoint - The development of marine ranching in Yantai is highlighted as a significant step towards building a strong marine economy, with innovative insurance solutions being introduced to mitigate risks associated with marine aquaculture [1][2][4]. Group 1: Marine Ranching Development - Yantai has established 46 provincial-level marine ranch demonstration zones, covering a total area of 1.4 million acres, with a projected fishery economic output value of 130 billion yuan and a total aquatic product output of 1.99 million tons in 2024 [1]. - The "Genghai No. 1" is the first large-scale intelligent ecological marine ranch complex in China, integrating fishery breeding, marine tourism, and technological research [1]. Group 2: Insurance Innovations - Taiping Insurance has launched the "Marine Ranch Innovation Index Insurance" to address the high risks and monitoring difficulties in marine aquaculture, utilizing meteorological data for customized insurance products [2]. - The company has established a marine insurance innovation research center in Yantai, focusing on creating a comprehensive financial insurance ecosystem for marine ranching [3]. Group 3: Financial Support and Risk Management - Taiping Insurance has provided over 1 billion yuan in risk protection for marine aquaculture businesses, with claims exceeding 50 million yuan, supporting various marine species such as kelp, scallops, and sea cucumbers [3]. - The collaboration between Taiping Insurance and the Yantai government aims to enhance the quality of marine ranch insurance and promote sustainable development in the marine economy [4].