Research On The Products Of Agricultural Loan Guarantee Insurance In China

Agriculture is the basic industry of our country,and the development of agricultural economy is an important factor that affects the economic development of our country.However,in the process of agricultural production,the main body of agricultural management often faces the dilemma of insufficient investment funds,lack of collaterals and excessive natural risks also restrict the acquisition of loans.In order to alleviate the problem of “difficult loans and expensive loans”,and in response to the call of the country to accelerate the cooperation between banks and insurance companies,the agriculture-related loan guarantee insurance is a financial tool that can effectively manage the credit risks.It has aroused the widespread concern of the government and experts and scholars.It is regarded as an important means to promote the coordinated development of agricultural insurance and agricultural credit and to promote the rapid development of rural finance.By optimizing the design of agricultural loan guarantee insurance products,this paper can promote agricultural insurance to play a role in risk protection,reduce the credit risks faced by banks,promote the coordinated development of agricultural insurance and agricultural credit,and broaden the insurance company's operating areas,thus breaking through the financing bottleneck of the agricultural operations and enables the “Silver,Agriculture and Insurance” to achieve a win-win situation.This research has certain practical significance for the extension and development of agricultural loan guarantee insurance in the whole country.This paper combs the relevant documents about the combination of insurance and agricultural credit,the development and operation of loan guarantee insurance both at home and abroad,and expounds clearly agricultural insurance,agricultural credit,loan guarantee insurance.Based on the cooperative theory and the related concept theory of non-life insurance actuarial theory,this paper studies the agricultural loan guarantee insurance products.Based on the relevant data of agricultural insurance and agricultural credit from 1987 to 2016 in China,this paper uses the co-integration test based on VAR model and Granger causality test to analyze the synergistic relationship between agricultural insurance and agricultural credit,and finds the two development relationships are inconsistent.The cooperative cooperation between agricultural insurance and agricultural credit can stabilize rural finance and promote the development of agricultural economy.The agriculture-related loan guarantee insurance has the characteristics of broadening the scope of agricultural insurance operations,reducing the risk of loss of the lending bank and alleviating the special nature of the borrower's loan difficulties,and there is an advantages in promoting the synergistic relationship between the two,which is the realistic basis of agricultural loan guarantee insurance.At present,China has experimented with different modes of guaranteed insurance for agriculture-related loans in some regions.However,they are not really guaranteed insurance in the sense that they are,but a product between credit insurance and guarantee insurance that does not conform to the basic classification of insurance.The product has problems in product definition,qualification review,design of warranty terms and determination of rates.Can not fully play the role of promoting agricultural insurance and agricultural credit development.Therefore,on the basis of previous research,this paper redesigns the products of the agriculture-related loan guarantee insurance,reduces the occurrence of moral hazard through the design of the insurance conditions,loan issuance process and other aspects of the agriculture-related loan guarantee insurance.Through the supplementary design of the terms of the business contract,the surety status of the insurance company is determined to ensure the realization of its right of recourse,and the operating income of the insurance company is guaranteed by introducing the credit transfer matrix design rate determination model.Finally,aiming at how to popularize the product in the market,the paper puts forward how to determine the reasonable counter collateral,introduce the comprehensive compensation agreement,combine the policy agricultural insurance with the agricultural loan guarantee insurance,and the government promotes the orderly operation of the product.In order to ensure that agricultural loan guarantee insurance can be better combined with agricultural credit,the regulatory authorities should strengthen product supervision and gradually build up specialized guarantee insurance premium rate determination agencies,play the role of risk protection of agricultural insurance and promote the coordinated development of rural finance.