Philippine govt readies strategy for microinsurance
Business World, 10 January 2010
The Finance department (DoF) will launch on January 29 the national strategy and regulatory framework for microinsurance, in hopes of jumpstarting an industry that will provide insurance policies to the country’s poorest sectors
"We do not have a formal microinsurance industry yet. The event will serve as the beginning of the industry. It will involve all firms that provide [micro]insurance," he explained in a phone interview yesterday.
Finance officials had previously said that the 42 million beneficiaries of the government’s microfinance program are the potential clients of microinsurance schemes. They pointed out that since these people already have access to funds, they are capable of buying insurance products.
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