The city will fund half the premium, up to 1m yuan (US$150,000) per company each year, and has launched an SME package where 9,800 yuan buys 5.5m yuan of cover.
The regulator also wants insurers and other financial institutions to demonstrate how geopolitical risks are embedded in strategy, risk appetite and board oversight.
The joint venture between vrs Adjusters and Uchiyama Loss Adjusting, announced in April, coordinates cross-border claims for Japanese insurers and corporates across Asia-Pacific.
The platform offers pre-agreed underwriting and claims frameworks and a 10% premium discount, and is open only to Aon clients in the US, Canada, the UK, Europe and Asia.
