Since this year, under the influence of typhoon "Dussuri" and "Sea Anemone", many places in China have suffered from rainstorm, which has caused floods and waterlogging disasters, seriously affecting the normal production and life of the people. Therefore, improving disaster warning and disaster prevention and reduction capabilities is particularly important. Recently, the first Siming Insurance Forum Catastrophe Insurance Risk Management Sub Forum was held in Ningbo. Industry experts and scholars from all over the country have discussed and exchanged ideas on the future development direction of catastrophe insurance, climate risk management, and mitigation pathways for catastrophic risks. The National Comprehensive Disaster Prevention and Reduction Plan for the 14th Five Year Plan "points out that we should prioritize proactive prevention, coordinate the use of various resources and means, and enhance the ability of the entire society to resist and respond to disasters. In recent years, the insurance industry has actively utilized risk reduction services to help improve social resilience and reduce social risk costs. According to data from the State Administration of Financial Supervision and Administration, in the past five years, the insurance industry has increased its premium income from 3.7 trillion yuan to 4.7 trillion yuan, provided insurance protection from 4154 trillion yuan to 13679 trillion yuan, and paid insurance claims from 1.1 trillion yuan to 1.5 trillion yuan, with growth rates of 28.4%, 229%, and 39%, respectively. The balance of insurance fund application has exceeded 25 trillion yuan, and the cumulative financing for serving the real economy has exceeded 21 trillion yuan. Especially this summer, the insurance industry promptly paid over ten billion yuan in compensation to 16 areas severely affected by typhoons and floods, supporting stable production and life in disaster areas and post disaster recovery and reconstruction. The insurance industry has become an important force in supporting the real economy, an important channel for improving people's livelihoods, and an important mechanism for responding to major risks and disasters. Lei Jianming, Vice President of China Re Group, stated that catastrophe insurance has played an important role in responding to major disasters, safeguarding the national economy and people's livelihood, smoothing fiscal revenue and expenditure, and helping to build a resilient society. The 14th Five Year Plan of China and the 2035 long-term goal outline further emphasize the important role of catastrophe insurance. As one of the first pilot cities for catastrophe insurance in China, Ningbo has launched a pilot program for catastrophe insurance since 2014, taking the lead in establishing a public catastrophe insurance system, constructing a "four in one" guarantee system, a multi cross organizational system, and a technology empowerment service system. At present, Ningbo's catastrophe insurance services have covered multiple fields such as public disasters, national and provincial highways, urban roads and bridges, urban drainage networks, and building exterior walls. Data shows that as of now, Ningbo City has paid a total of 224 million yuan in compensation, benefiting over 340000 people, providing China with the "Ningbo Experience" and "Ningbo Plan" to improve the catastrophe insurance system. Ningbo City's catastrophe insurance has basically achieved universal coverage and universal benefits, "said Jin Shan, Vice Mayor of Ningbo City. Safety is the prerequisite and foundation for development. In the face of sudden severe disasters, we must play a good role in the economic shock absorption and social stability of catastrophe insurance, so that the results of catastrophe insurance can better benefit the people. Zhang Hongcheng, Deputy Director of the Emergency Management Bureau of Ningbo City, believes that the disaster insurance in Ningbo vividly illustrates the transformation of the government's functions in disaster management. Experience has shown that the innovation of the insurance system is reflected in the fact that insurance is a policy tool for the government to carry out urban disaster management, and public disaster insurance