Research On The Legal Issues Of China's Policy-oriented Agricultural Insurance

Agricultural insurance in essence is a kind of disaster compensation mechanism.Establishing and improving the policy-oriented agricultural insurance system is an important part of China's agricultural support and protection system.GATT(former WTO)Uruguay Round Agreement on Agriculture(URAA)limits its contracting parties to implement policy subsidy directly in 1994.Thereafter,Countries and regions begin to adjust their agricultural policies and vigorously develop their agricultural insurance.In face of this situation,China accelerated the promotion of agricultural insurance and make system construction as well as legislation.The legislation of agricultural insurance in our country started late,but since the implementation of the policy-oriented agricultural insurance system in 2007,we have made some achievements.Since China's policy-oriented agricultural insurance system needs to be systematized,improved and refined,some problems occurred in the implementation process,which hindered the further development of China's policy-oriented agricultural insurance system.Compared with the countries which are more mature in the legislation and practice of the policy-oriented agricultural insurance,China's policy-oriented agricultural insurance system has many problems.For example,the insurance rate is not high;the catastrophe risk sharing mechanism is not perfect;the right relief approach is not suitable and etc.To solve the above problems,we need to adjust the principles of policy-oriented agricultural insurance and modify our current voluntary insurance principle into a limited or compulsory one.In order to reduce the pressure of huge insurance compensation caused by catastrophe and make the agricultural insurance institutions develop in a sustainable way,we urgently need to securitize our agricultural catastrophe risk through legislation(such as catastrophe bonds).In order to prevent the insurance company from deliberately damaging the legitimate rights and interests of the insured when policy agricultural insurance accidents occur,we must reconstruct the right relief way of policy agricultural insurance in our country.