Financial Regulatory Administration and other departments convene meeting to advance technology insurance exchange
Technology insurance defines three extensions
Three major innovation hubs become "premiere launch sites"
◎ Reporter Han Songhui
Recently, the National Financial Regulatory Administration and the Ministry of Science and Technology jointly convened a meeting on science and technology insurance to advance implementation of the "Opinions on Accelerating High-Quality Development of S&T Insurance and Strongly Supporting High-Level S&T Self-Reliance." The meeting reviewed practical experiences from local regions and insurance providers and outlined key priorities for the next phase.
The meeting noted that in recent years, departments, regions, and insurers have worked together to advance technology insurance from pilot exploration to systematic implementation. Business volume has grown rapidly, and coverage has expanded continuously. From 1 to 8 of 2026, technology insurance provided risk protection totaling RMB 8.7 trillion for technology activities—a year-over-year increase of 66.9%. The number of operating entities grew from an initial 5 pilot units to over 60. The first-of-a-kind and first-batch insurance mechanisms have operated for more than a decade, delivering over RMB 1 trillion in risk protection for major technical equipment and key new materials. Local initiatives have achieved positive results in exploring technology insurance for commercial aerospace, integrated circuits, and quantum technologies.
The meeting emphasized that tech insurance is an effective tool for strengthening the risk-sharing mechanism for major technological breakthroughs and supporting high-level scientific self-reliance. Policies should be implemented by clarifying "who needs coverage, what to cover, and how to insure," leveraging the insurance industry's role as an economic shock absorber and social stabilizer. Regions should tailor initiatives to local conditions, innovate distinctive insurance products and services, and build a diversified insurance protection system.
The meeting stated that the 15th Five-Year Plan period is a critical phase for achieving high-level technological self-reliance and building a leading global science and technology power. It emphasized the vital importance of insurance services in supporting technological innovation. Given that tech innovation involves high investment, significant risk, and long development cycles, technology insurance must evolve from protecting assets to safeguarding processes, from covering outcomes to enabling exploration, and from providing "economic compensation" to delivering "risk reduction" and "credit enhancement." Strengthen policy promotion and establish a coordination mechanism for advancing technology insurance to ensure effective implementation. Support Beijing (Jing-Jin-Ji), Shanghai (Yangtze River Delta), and the Greater Bay Area as international centers for scientific and technological innovation to become the "launchpads" for technology insurance innovation, leveraging their pioneering role and demonstrating best practices.
The meeting called for focusing on national major scientific and technological tasks and technology-based SMEs to expand insurance coverage, promoting tech insurance into industrial parks, incubators, and high-tech zones. It emphasized optimizing insurance products across the full innovation chain—from R&D and pilot testing to commercialization, first-use trials, and mass production—by integrating risk assessment, monitoring and early warning, and hazard identification into enterprise innovation processes. Insurance providers were urged to strengthen their capabilities in policy, product design, team building, talent development, and performance evaluation; accumulate tech risk data; and refine actuarial pricing. Insurance capital should be deployed via bonds, funds, equity investments, and asset securitization to support early-stage ventures, small enterprises, long-term projects, and hard-tech sectors. Regulatory authorities—including financial supervision, science and technology, industry and information technology, finance, and intellectual property departments—were directed to enhance coordination, balance innovation support with fund safety management, and foster a conducive development environment. Additionally, the meeting launched a theme campaign on tech insurance and exchanged insights on relevant policies and case studies.
