On the 25th, Zhengshangsuo issued a notice to carry out the "insurance + futures" county full coverage pilot construction.
According to the requirements of the pilot construction, the pilot variety is white sugar, and the county implemented is Luocheng Yi Autonomous County(hereinafter referred to as Luocheng County) in Guangxi Zhuang Autonomous Region. The pilot project application subject is an insurance company, and the application subject must have a branch in Luocheng County., and have the qualifications to engage in agricultural insurance business. The subject of the application for cooperation in the pilot project is the futures company(2-3 companies), and the risk management company under the futures company must have the qualifications to carry out the over-the-counter options business. The pilot service target is all sugarcane growers in Luocheng County. The pilot model is to use the "insurance + futures" model to provide service objects with price risk management services that are in line with the actual agricultural production.

Insurance companies can not collect premiums higher than 1.14 times the royalties, and should design plans according to the needs of policy holders. The county's insurance plans must be unified, and the premiums should be reduced as much as possible while increasing the level of insurance protection. The life cycle of the pilot project should be within the white sugar production cycle and not less than three months. Pilot closure date not later than 30 April 2019.
Zhengshangsuo will support the pilot project in the form of fee relief. The support funds should all be used to subsidize the insurance costs of agricultural operators.Insurance companies can not collect premiums higher than 1.14 times the royalties, and should design plans according to the needs of policy holders. The county's insurance plans must be unified, and the premiums should be reduced as much as possible while increasing the level of insurance protection. The life cycle of the pilot project should be within the white sugar production cycle and not less than three months. Pilot closure date not later than 30 April 2019.
Zhengshangsuo will support the pilot project in the form of fee relief. The support funds should all be used to subsidize the insurance costs of agricultural operators.

From: Guangxi Sugar Network