Weaving a "safety net" for the stable production and supply of the pig industry, the scientific pricing mechanism for pig insurance is about to be broken.

"Strengthening comprehensive regulation of pig production capacity" has been included in the outline of the "14th Five-Year Plan." The China Banking and Insurance Regulatory Commission, the Ministry of Finance, and the Ministry of Agriculture and Rural Affairs recently jointly issued a notice on strengthening cooperation to promote the high-quality development of pig insurance. The notice aims to improve the accuracy of pig insurance underwriting and claims, promote the high quality and efficiency of pig insurance, and provide a "safety net" for stable production and supply in the pig industry. Several pig insurance industry professionals, in interviews with reporters, have stated that pig insurance is an essential guarantee product that receives subsidies from central and local finance to support pig production and food safety. However, pig insurance is facing multiple challenges in current operation and urgently needs to improve pricing accuracy and product innovation with the support of the notice to better meet the emerging risk protection needs of the pig industry.