我国巨灾风险证券化实践的相关问题探讨

A Probe into the Problems Related to the Practice of Securitization for Catastrophes in China

巨灾风险证券化对于我国巨灾保障体系建设和保险业的发展具有重大意义,但在现行的政策体系下还存在很多的问题。首先,证券化的发行机制与法律规定存在冲突;第二,证券化产品需要国内金融市场提供更好的交易环境;第三,风险证券化对保险监管提出了新的要求。此外,2008年的全球金融危机又为证券化等金融创新活动的发展提供了很多的经验和启示。对这些问题进行深入探讨并提出有针对性的解决意见,将有助于推动我国巨灾证券化的进一步实践。

Catastrophe securitization is significant to the development of Chinese insurance industry and the establishment of catastrophe insurance system in China, but there are still many problems under the current policy. Firstly, the issue mechanism of securitization conflicts with the laws. Secondly, the domestic financial market should provide a better exchange environment to securitized products. Thirdly, the securitized products make more challenges for regulation. And, from the global financial crisis in 2008, many references and lessons about the financial innovation should be learned. Researching these questions and providing the pertinent solutions would be advantageous to promote the practice of catastrophe securitization.