Davao stakeholders keen on microinsurance in the Philippines
Philippine Information Agency, 22 September 2010
The government's financial literacy programme on microinsurance has gained interest from its target key stakeholders in the region in a recently held two-day consultation. Joselito S. Almario, director III of the Department of Finance, said stakeholders in Davao Region have showed interest in microinsurance which he said is one of the finance services that the government is currently pursuing to cater for the low-income sector.
On its third leg of regional consultation across the country, the DOF-National Credit Council (DOF-NCC) gathered last week where around 200 stakeholders from microfinance institutions, insurance companies, cooperatives, national government agencies and local government units attended.
Almario, also NCC executive director, told the Philippine Information Agency that the consultations which were first conducted in Cagayan de Oro and Cebu were part of the activities of the technical working group from the public and private sectors involved for the finalisation of the Roadmap to Financial Literacy on Microinsurance.
Almario also announced that the DOF-NCC launched the National Strategy for Microinsurance and the Regulatory Framework for Microinsurance, which will be the pillars of the microinsurance market development that ensures access to appropriate risk protection for the poor.
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