Insufficient demands are an important issue hindering the high-quality development of the insurance industry,while in-formation is the key factor for the establishment of trust.Based on the repeated game model of insurance trust under the impact of negative information(regulatory talk),this paper constructs an analytical framework for the formation of farmers'trust,and intro-duces betrayal aversion to study the weakening effect and mechanism of negative information on farmers'trust,empirically using the random sampling data and accreditation experiments of swine raising industry in A City,Henan Province in 2017 and 2018.It is found that negative information significantly reduces farmers'trust in insurance companies,and verifies the betrayal aversion na-ture of farmers'trust,which provides a theoretical basis for insurance companies to self-regulate their business behaviors and to improve the level of agricultural insurance protection.