On June 24th, Gelunhui announced that it has recently signed the "Hainan Rubber 2024 Rubber Tree Physical Chemical Cost Insurance Project Insurance Agreement" and the "Hainan Rubber 2024 Rubber Tree Full Cost Insurance Project Insurance Agreement" with China Peoples Property Insurance Co., Ltd. Hainan Branch, and China Pacific Property Insurance Co., Ltd. Hainan Branch respectively. It has also simultaneously lifted the "Hainan Rubber 2024 Rubber Tree Comprehensive Insurance Project Insurance Agreement" signed in December 2023. It has also signed the "Hainan Rubber 2024 Rubber Income Insurance Project Insurance Agreement (New)" with China Pacific Property Insurance Co., Ltd. Hainan Branch, China Peoples Property Insurance Co., Ltd. Hainan Branch, China Life Property Insurance Co., Ltd. Hainan Province Branch, Ping An Property Insurance Co., Ltd. Hainan Branch and Sunshine Property Insurance Co., Ltd. Hainan Province Branch respectively and lifted the "Hainan Rubber 2024 Rubber Income Insurance Project Insurance Agreement" signed in December 2023.
According to the "Implementation Plan for Agricultural Insurance in Hainan Province in 2024" and the "Implementation Plan for Comprehensive Insurance of Natural Rubber in Hainan Province", the natural rubber insurance in Hainan Province in 2024 is the comprehensive insurance of natural rubber, including rubber tree physical chemical cost insurance, rubber tree full cost insurance and natural rubber income insurance. Hainan Rubber's rubber insurance project needs to participate in accordance with the new plan. After the original insurance agreement signed in December 2023 is lifted, the parties to the agreement will no longer continue to perform the obligations stipulated in the original agreement. The compensation liability for insurance accidents that occurred during the period from January 1, 2024 to the lifting date under the original agreement shall be fulfilled in accordance with the new agreement signed this time. The insurance premiums already paid by the company according to the original insurance agreement shall be refunded or paid more according to the new agreement.