How to promote agricultural insurance in China?

Purpose – The purpose of this paper is to investigate how to promote the agricultural insurance amid the “new normal” of economic development. Design/methodology/approach – This paper reviewed the achievements and experiences of China agricultural insurance development in the past eight years, deeply analyzed the problems during the development and proposed several solutions. Findings – During 2007-2014, the development of China agricultural insurance has made significant accomplishments and achieved important experience; however, problems also emerged during the process, such as blurry boundaries between government and market, unclear policy target, disordered market competition and improper management. To solve these problems and promote China agricultural insurance, efforts should be put more on fiscal taxation policy, government department coordination, catastrophe risk dispersion system, maintaining orderly competition, regulating management and strengthening innovation. Originality/value – This paper makes a systematic analysis on the experiences, problems and solutions for China agriculture insurance during 2007-2014, which is of great significance to promote China agriculture insurance development.