Research On The Development About Micro Insurance In Hebei Province

Micro insurance comes up in developing countries in the recent years. It provides theinexpensive insurance premium, the basic production and living support for low-incomegroups. It has obtained some success. Micro insurance is advantageous to construct thesocialism new rural and develop our harmonious society. So our government pays greatattention to it. Our country has a favorable macroeconomic environment to carry out themicro insurance as the environment foundation: There is a series of policies for thedevelopment of micro insurance, such as the first document of the Central Committee on thethree dimensional rural issues, the new rural construction, the insurance industry reform andso on. The market foundation to develop micro insurance is the large potential demand. Onthe one hand, rural population and the demand for the micro insurance is very big, on theother hand the micro insurance demand of the peasant laborer is also big. It has the powerfulsupply of subjects (mainly government and commercial insurance companies). Also, ChinaInsurance Regulatory Commission has set up a special research group to study it. Our countryis about to develop micro-insurance vigorously, it is necessary to understand it fully andcomprehensively. Hebei Province is both a big economic province and a major agriculturalprovince. Combined with the actual situation in Hebei province, the experience in thedevelopment of micro insurance at home and abroad, the paper talks how to promote thefurther development of micro insurance in Hebei province, trying to have a certain amount oftheoretical and practical guiding significance for the development of micro insurance in HebeiProvince, and to promote it to develop healthily and rapidly.Firstly the connotation of micro insurance is defined. It summarizes the micro insuranceclassification, characteristics, and analysis of the theoretical basis of the micro insurance. Onthis basis, the paper analyzes the current situation of supply and demand, and also theproblems of micro insurance development in Hebei Province. It obtains the first-handinformation through the questionnaire issued to farmers to analyze the demand conditions of the micro insurance in rural areas of Hebei Province, and gets the indirect informationthrough Insurance Regulatory Commission, insurance companies, intermediaries’ discussionto analyze the supply of micro insurance status in Hebei Province. And then sum up theproblems of micro insurance about the demand, supply, and regulation in Hebei Province.Afterwards, it introduces the practices of micro insurance in foreign countries. Through theirexperiences, we could learn something. Finally, it discusses how to develop micro insurancein Hebei Province. There are four areas: the development of micro insurance products design,the development of the distribution pattern and sales channel, the construction of themanagement mechanism, the supervision of the government and regulatory bodies.