Three departments: Encourage insurance companies to develop insurance products for various links of the pig industry chain to promote the improvement and efficiency of pig insurance.

On March 13th, the China Banking and Insurance Regulatory Commission, the Ministry of Finance, and the Ministry of Agriculture and Rural Affairs issued a notice on strengthening cooperation to promote the high-quality development of pig insurance. It mentioned the need to improve product supply. Encouraging insurance companies to develop insurance products for all aspects of the pig industry chain, supporting the development of piglet insurance based on local conditions, and providing comprehensive insurance protection for breeding farms. Improving the demonstration clauses of pig insurance to enhance the standardization of products. Localities should adjust the insurance amount dynamically according to the cost of pig production and market price changes, and strictly guard against moral risks. Reasonably determine related costs. Insurance companies should continue to strengthen the management of pig insurance and control the overall cost ratio at a reasonable level. Localities should reasonably determine co-sponsorship expenses according to the principles of fairness and justice. Insurance companies should truthfully report co-sponsoring expenses to eligible co-sponsoring units (or individuals) in accordance with legal requirements and actual situations. The original text is as follows: [Text Omitted] Please note that the translation may not be 100% accurate due to the complexity of the text and differences between languages.