Recently, four departments, including the Ministry of Finance, the Ministry of Agriculture and Rural Affairs, the General Administration of Financial Supervision, and the State Forestry and Grass Administration, jointly issued the “Implementation Plan on Accelerating the High-Quality Development of Agricultural Insurance”, which clearly states that a multi-level agricultural insurance system will basically be established by 2030. According to the implementation plan, it is necessary to give full play to the important role of agricultural insurance in the “trinity” agricultural support policy system of prices, subsidies, and insurance. By 2030, a multi-level agricultural insurance system that is in line with farmers' risk protection needs, is compatible with modern agricultural development, and has a division of labor between the central government and local authorities will generally reach the international advanced level, achieving a win-win pattern with efficient subsidies, guaranteed industries, affordable benefits for farmers, and sustainable institutions. Policies are more inclusive, and development is more balanced. The depth of agricultural insurance reached 1.9%, the agricultural insurance density reached 1,200 yuan/person, and the investment intensity of agricultural insurance technology reached 1%. The agricultural insurance coverage rate for the three major food crops of rice, wheat, and corn has stabilized at around 90%, raising the level of coverage of characteristic agricultural insurance for characteristic agricultural industries and giving better play to the role of rich farmers and strengthening agriculture. The comprehensive cost rate for agricultural insurance is not higher than 20%.

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