News - Philippine insurance industry and government finalising microinsurance strategy
Source: Asia Insurance Review | Jan 2010
A public-private sector working group in the Philippines has approved a draft strategic framework, the “National Strategy for Micro-insurance” to encourage investments in microinsurance products intended to provide a safety net to the country’s poorest segments. Under the draft, stakeholders will undertake three key steps to provide the poor access to insurance products, namely: provide an appropriate policy and regulatory framework; monitor informal insurance schemes; and institutionalise financial literacy.
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