Toward an efficient and sustainable Microinsurance market: The regulatory perspective
While both microcredit and microinsurance products in the developing world have essentially emerged in a regulatory vacuum, the general consensus appears to be that self-regulation may have thus far served the global microcredit industry adequately. The same premise is likely to be false when it comes to microinsurance since diffusion of the essence of insurance among the poor has proven non-trivial. The regulatory framework therefore has to target multiple goals such as to foster market innovations (in terms of product design and the institutional delivery mechanism), to protect the policy holder (i.e., achieving “cost efficiency” and “sustainability”) and at the same time to ensure that insurance services remain inclusive and compatible with the needs of the poor. Accomplishing these goals within a single regulatory framework requires a fine balance. This paper deliberates on how to craft a set of regulatory statutes that would be relevant for the microinsurance industry in consonance with these goals.
|Date of creation:||Apr 2010|
|Publication status:||Published in Macro Dynamics of Micro Finance (2010): pp. 583-603|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Gine, Xavier & Townsend, Robert & Vickery, James, 2007.
"Patternsof rainfall insurance participation in rural India,"
Policy Research Working Paper Series
4408, The World Bank.
- Xavier Giné & Robert Townsend & James Vickery, 2008. "Patterns of Rainfall Insurance Participation in Rural India," World Bank Economic Review, World Bank Group, vol. 22(3), pages 539-566, October.
- Xavier Giné & Robert M. Townsend & James Vickery, 2007. "Patterns of rainfall insurance participation in rural India," Staff Reports 302, Federal Reserve Bank of New York.
- Syed M. Ahsan, 2010. "Microinsurance, Poverty & Vulnerability: A Concept Paper," Working Papers 1, Institute of Microfinance (InM).
- Dror, David Mark & Koren, Ruth & Ost, Alexander & Binnendijk, Erika & Vellakkal, Sukumar & Danis, Marion, 2007. "Health insurance benefit packages prioritized by low-income clients in India: Three criteria to estimate effectiveness of choice," Social Science & Medicine, Elsevier, vol. 64(4), pages 884-896, February.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:35816. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter)
If references are entirely missing, you can add them using this form.