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Regulation in Microinsurance Markets: Principles, Practice, and Directions for Future Development

  • Biener, Christian

    ()

  • Eling, Martin

    ()

  • Schmit, Joan T.

    ()

Regulation of any market can either promote or impede its development, thus affecting social welfare. In this paper, we are concerned with the impact of regulation in microinsurance markets. We evaluate existing and potential regulatory mechanisms with regard to its underlying economic rationale, and offer recommendations intended to enhance support and minimize barriers for microinsurance market development. Specifically, we recommend avoiding incentives for regulatory arbitrage; responding to the characteristics of the microinsurance market, including licensing, capital, reinsurance, and distribution systems; enhancing the market through financial literacy initiatives; and providing support in the form of data collection and management training.

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File URL: http://www1.vwa.unisg.ch/RePEc/usg/sfwpfi/WPF-1305.pdf
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Paper provided by University of St. Gallen, School of Finance in its series Working Papers on Finance with number 1305.

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Length: 40 pages
Date of creation: Jan 2013
Date of revision:
Handle: RePEc:usg:sfwpfi:2013:05
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Web page: http://www.unisg.ch/de/Schools/Finance.aspx

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  14. Cull , Robert & Demirguc-Kunt , Asli & Morduch, Jonathan, 2009. "Does regulatory supervision curtail microfinance profitability and outreach ?," Policy Research Working Paper Series 4948, The World Bank.
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  24. Jalilian, Hossein & Kirkpatrick, Colin & Parker, David, 2007. "The Impact of Regulation on Economic Growth in Developing Countries: A Cross-Country Analysis," World Development, Elsevier, vol. 35(1), pages 87-103, January.
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