Research On The Development Of China’s "Insurance Plus Futures" Program

"Insurance Plus Futures"Program was launched in the past two years by our country,which was known as the Agricultural Futures Price Insurance,which is equivalent to a agricultural price insurance.It links the insurance market to the futures market.It not only possesses the essential characteristics of traditional agricultural price insurance,but also provides a new channel for insurance companies to transfer risks.Therefore,the implementation of"Insurance Plus Futures" Program has been paid extensive attention and support from farmers,insurance companies,futures companies and futures exchanges.It has changed the original methods of agricultural insurance pricing and risk transfer,and it has been a new agricultural insurance risk management with a broad development prospects.At present,the farmer are mainly faced with the natural risk and market risk which is difficult to avoid,with the continuous development of agricultural modernization,the influence of market risk is constantly increasing.However,at the time,our country’s^agricultural insurance products were mainly aimed at guaranteeing production,which were limited to safeguarding natural risks.Therefore,in 2014,the Central Document No.1 proposed build The Target Price System of Agricultural Products.However,the determination of target price is not scientific,moreover,the systematic nature of agricultural risks makes many insurers frightened,therefore,the development of The Target Price System of Agricultural Products was in trouble."No.1 Document"proposed to steadily expand the"Insurance Plus Futures"pilot program for many times in 2016,2017and2018,which provides a new idea in transferring agricultural risk.Therefore,by putting forward relevant policy suggestions based on its existing problems to make the program operate better.This paper adopts the methods of quantitative analysis and qualitative analysis to put forward relevant policy recommendations.First of all,this paper puts forward the definition and characteristics of "Insurance Plus Futures" Program,summarizes its function to farmers,insurance companies,futures companies and the government,and collect the concept of futures and options,and sort the function of futures market.Secondly,through the analysis of the policy support and current situation of”Insurance Plus Futures" Program.And selected the Xinhuruifeng"Insurance Plus Futures"Program cases to introduce and deepen people’s understanding of the operation.Furthermore,according to the"Insurance Plus Futures"pilot status of the development to summarize the problems,then use the qualitative analysis to analyse the lack of a clear pricing model and imperfect development of fxtures market,and use the quantitative analysis to analyse the weaker price discovery function in the futures market.Finally,according to the reason analysis,putting forward the relevant policy recommendations from the government level,the insurance company level,the futures market level as well as the public and farmers level to.