In 2025, China's agricultural insurance will provide risk coverage exceeding 5 trillion yuan

According to the latest statistics from the China Banking and Insurance Regulatory Commission, by 2025, China’s agricultural insurance premium income will reach 155.55 billion yuan, with a total risk coverage of 5.3 trillion yuan. In terms of premium income, 2025 marks the second consecutive year that China has become the world’s largest agricultural insurance market. Currently, agricultural insurance covers all aspects of agricultural production, and risk protection is gradually shifting from insuring physical costs to insuring full costs and income.

It is understood that agricultural insurance, as an important part of China’s modern agricultural risk management system and rural financial system, is playing an increasingly significant role. In recent years, the China Banking and Insurance Regulatory Commission has focused on “expanding coverage, increasing products, and improving quality” to develop a multi-layered agricultural insurance system.

First, efforts are being made to vigorously promote the development of insurance for staple crops vital to national livelihood, such as rice, wheat, and corn, with continuous expansion of full-cost insurance and income insurance for these major grains. By 2025, soybean full-cost insurance and income insurance policies will be extended to all provinces (autonomous regions and municipalities) except central government units, providing risk protection of 44.6 billion yuan, an increase of 37.02%. At the same time, guidance is being given to localities to enhance agricultural insurance service capabilities, requiring regions to actively promote precise claims settlement and improve service convenience. Insurance companies are encouraged to utilize satellite remote sensing, drones, and other technologies to improve accurate and efficient damage assessment mechanisms, explore remote damage assessment and “zero-contact” claims processes, and enhance agricultural insurance service efficiency. Additionally, insurance companies are guided to develop products suited to local conditions, steadily promote innovative insurance types such as index insurance and regional yield insurance, and develop insurance products that meet the needs of new agricultural business entities, further expanding the field of agricultural insurance services.

(CCTV Reporter Wang Lei)

(CCTV News)

Editor: Zhang Li