Notice on the Pilot Work of Entrepreneurship Liability Insurance for Technology Enterprises

Carrying out the pilot work of entrepreneurial liability insurance for science and technology enterprises is to make full use of market-oriented means to control and share entrepreneurial risks. It is a beneficial exploration to deepen the reform of science and technology innovation and financial, which is conducive to building a good science and technology entrepreneurship ecosystem, further stimulate the innovation and entrepreneurship vitality of science and technology enterprises, and promote the construction of Shanghai Science and Technology Innovation Center.

The pilot project of entrepreneurial liability insurance for technology enterprises adheres to the principles of "policy guidance, government supervision, and market operation".All kinds of science and technology innovation and entrepreneurship entities and carriers in this city independently insure entrepreneurial liability insurance for technology enterprises, and insurance companies provide customized comprehensive insurance products for underwriting.

Technology Enterprise Entrepreneurship Liability Insurance mainly protects the risk of technological enterprises suffering from economic losses due to entrepreneurial failures.The companies that settle in the city’s national university science and technology park and the technology enterprise incubator included in the city’s science and technology innovation and entrepreneurship carrier cultivation system are insurance targets, and the entrepreneurs of the companies settled in the city are the beneficiaries of the insurance.After insurance is taken, the city’s national university science and technology park and the science and technology enterprise incubator included in the city’s science and technology innovation and entrepreneurship carrier cultivation system will be given premium subsidies by the city and district science and technology authorities.

（1) Insurance companies participating in the pilot should have an in-depth understanding of the risk characteristics of technology enterprises in each stage of innovation, continuously accumulate data and summarize experience during the pilot process, continuously optimize the design of entrepreneurial liability insurance plans for technology enterprises, continuously strengthen innovation in technology insurance products and services, further improve the scientificity and accuracy of risk pricing, and effectively meet the diversified risk protection needs generated by enterprises in scientific and technological innovation activities.For new products and terms that accurately connect to the market and corporate needs, the Shanghai Banking and Insurance Regulatory Bureau will open a green channel and give priority to accepting reports.

（2) Insurance companies and insurance intermediary companies participating in the pilot should have professional technology insurance service capabilities and experience, be equipped with professional technology insurance service personnel, deeply understand and actively respond to the actual needs of technology enterprises, focus on collecting experiences, models and cases of insurance services to support the stable development of enterprises, and take the lead in point and radiation to gradually establish and improve the characteristic service system of technology insurance;Relevant systems such as technology insurance underwriting, claims, and finance should be improved, and internal control, financial, and confidentiality management should be strengthened;Strictly abide by relevant national confidentiality laws and regulations and strengthen accountability.

The district science and technology authorities participating in the pilot should do a good job in publicity, mobilize university science and technology parks and science and technology enterprise incubators that meet the insurance requirements to insure technology enterprise entrepreneurship liability insurance and match the corresponding special funds to subsidize.

Insurance companies that are willing to participate in the pilot are required to pass the Shanghai Science and Technology Financial Information Service Platform before February 15, 2023 ( www.shtic.com/kjjr） Submit a pilot application to the Municipal Science and Technology Commission.The list of insurance companies that have obtained pilot qualifications will be announced on the Shanghai Science and Technology Financial Information Service Platform, which is convenient for inquiry on insurance of university science and technology parks or incubators.

The Shanghai Banking and Insurance Regulatory Bureau and the Municipal Science and Technology Commission are responsible for supervising the standardized operation of pilot insurance companies, promptly correcting and investigating illegal and irregular behaviors, and canceling the pilot qualifications as appropriate.

This pilot work will be implemented from the date of issuance and will be valid for two years.