Microinsurance news

‘More than 3.4 billion people worldwide are already threatened by natural hazards, most of them in the developing world. Climate change could make matters even worse. Innovative insurance solutions offer these large populations more adequate financial tools  to help them cope with the growing risks in a changing climate‘ says the second page of a […]

You would be forgiven for thinking that FONDEN, the Fund for Natural Disasters of Mexico, would be perfectly able to cope with losses from natural disasters as it has the MultiCat Mexico 2009 Ltd. catastrophe bond to fall back on. Unfortunately, the types of disasters which cause regular problems in Mexico aren’t covered by that […]

Microinsurance is becoming a hot topic among insurers and reinsurers looking for new sources of revenue and new markets to enter. It’s an opportunity the size of which hasn’t been seen by the insurance industry for many years but there are some key points to remember when it comes to introducing microfinance products in developing […]

It’s the Rendez-Vous de Septembre reinsurance industry meetings in Monaco at the moment. The event sees many of the leading lights of the reinsurance world attend to meet, discuss and learn about the state of the market. The event always has some briefings with interesting topics and yesterday there was a press briefing hosted by […]

Chile is a country extremely prone to earthquakes, as evidenced by the 8.9 magnitude quake which devastated areas of the country in February this year. You would be forgiven for thinking that as a country plagued by earthquakes it would have a robust risk management and insurance culture. It doesn’t, but talks are beginning to […]

The Mexican insurance association AMIS has been working on a microinsurance pilot in collaboration with a government agency called Pronafim (National Program for Microfinance). So far they have sold in excess of 50,000 microinsurance life policies which is great market penetration for a new type of product.

Sompo Japan has been trialing a weather risk microinsurance product in a region of Thailand since January this year (our article on the launch here). The trial project saw weather index insurance for drought sold in Khon Kaen province in Northeast Thailand. It was the first such microinsurance product made available in Thailand.

ICICI Lombard, the Indian insurer who have championed weather risk protection on a microinsurance basis, are launching yet another pilot scheme aimed to help rural farmers.

A group of academic who have been working with the United Nations University Institute for Environment and Human Security (UNU-EHS) and the Munich Climate Insurance Initiative (MCII) have called for diplomats attending the upcoming Bonn and Mexico climate talks and summit to take insurance into account.