MOST and the China Insurance Regulatory Commission (CIRC) co-hosted an MOU signing ceremony for pilot zones of S&T insurance that covers scientific research, development and commercialization. The ceremony was held on July 20 when MOST and CIRC signed the MOU on Cooperation in S&T Insurance with the first batch of pilot areas, namely Beijing, Tianjin, Chongqing, Shenzhen, Wuhan, and the Suzhou Hi-tech Zone.
The Huatai Insurance Co., Ltd. and the China Insurance Broker Co., Ltd. respectively inked the first S&T insurance policy with the Suzhou Good-Ark Electronics Co., Ltd. and the UFIDA Software Co., Ltd. The ceremony demonstrates fruitful cooperation among the science community, insurance industry and local authorities with regard to working out new models for S&T insurance. It marked a new stage of insurance backing China’s national innovation strategy.