The area of crops covered by agricultural insurance in China exceeds 1.1 billion mu.

At the "Agricultural Insurance Seminar" held on September 10, the "China Agricultural Insurance Market demand Survey report" was officially released. The report shows that from 2007 to 2013, China's agricultural insurance covered major crops from 230 million mu to 1.106 billion mu, providing a total of 4.07 trillion yuan in risk protection and paying 75.9 billion yuan in reparations to 120 million households. The scale of agricultural insurance business in China has jumped to the second place in the world, second only to the United States, which has a history of agricultural insurance for more than a hundred years.

At present, China's agricultural insurance areas have covered all provinces, underwriting more than 90 crop varieties, basically covering agriculture, forestry, animal husbandry and fishing. In 2013, China's agricultural insurance achieved "four breakthroughs": the covered area of major crops exceeded 1 billion mu, reaching 1.106 billion mu; the insured amount exceeded 1 trillion yuan, reaching 1.39 trillion yuan; the number of insured households exceeded 200 million, reaching 214 million; insurance reparations exceeded 20 billion yuan, reaching 20.86 billion yuan. The insurance coverage rates of the three major rations crops, rice, corn and wheat, reached 64.9%, 67.3% and 61.8%, respectively.

Chen Wenhui, vice chairman of the CIRC, believes that the development of China's agricultural insurance has leapt to a new level, and breakthroughs need to be made in six aspects: macro strategy, management mechanism, industrial innovation, risk prevention, supporting policy system, and information supervision. However, in the process of the development of agricultural insurance, there are still a variety of deep contradictions to be resolved. Li Jianhua, chief financial officer of the Ministry of Agriculture, said: "at present, there are still some problems in agricultural insurance, such as low level of protection, single product types, insufficient subsidies and so on."

The report shows that agricultural insurance covers a wide range of areas, and the degree of protection needs to be improved urgently. Most of the farmers surveyed think that the existing agricultural insurance is not enough to make up for 50% of the loss, and the low indemnity has become the main reason why the respondents did not buy agricultural insurance. Farmers have a strong demand for agricultural insurance products with low burden and high security, especially agricultural cooperatives and leading agricultural enterprises have a more urgent demand for price insurance. However, there are still three major problems in the promotion of agricultural insurance: farmers' lack of understanding of agricultural insurance and low enthusiasm for insurance; lack of financial subsidy capacity; lack of special funds and personnel for agricultural insurance work.