The CDRF officially launched the Research Project on Parametric Insurance and Reform of the Natural Disaster Relief System

The CDRF officially launched the Research Project on Parametric Insurance and Reform of the Natural Disaster Relief System on January 6, 2014. The meeting was chaired by Fang Jin, deputy secretary-general of the CDRF. Those attending the meeting included experts from the China Insurance Regulatory Commission, the Research Institute for Fiscal Science of the Ministry of Finance, Beijing University, Beijing Normal University, Nankai University and Beijing Branch of Swiss Reinsurance. They discussed the importance, key points, technical difficulties, potential policy implications, and next-step work arrangements of the project.

         According to the experts, the launch of the project was timely and necessary. The development of parametric insurance as a new risk management tool is of great significance to the improvement of the natural disaster relief system, the emergency response ability of the government and residents, the integration of the insurance market and the capital market, and the reform of the public finance system. The experts expressed their willingness to work together with the CDRF on this forward-looking, innovative project, to complete research tasks in a timely and responsible manner and to lay the groundwork for follow-up work.