Ahsan, Syed M. and Barua, Shubhasish and Tax, Jaimie (2010): Toward an efficient and sustainable Microinsurance market: The regulatory perspective. Published in: Macro Dynamics of Micro Finance (2010): pp. 583-603.
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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.
|Item Type:||MPRA Paper|
|Original Title:||Toward an efficient and sustainable Microinsurance market: The regulatory perspective|
|English Title:||Toward an efficient and sustainable Microinsurance market: The regulatory perspective|
|Keywords:||Microinsurance, poverty & vulnerability, prudential regulation, reporting standards|
|Subjects:||G - Financial Economics > G2 - Financial Institutions and Services > G22 - Insurance ; Insurance Companies ; Actuarial Studies
G - Financial Economics > G1 - General Financial Markets > G18 - Government Policy and Regulation
|Depositing User:||Shubhasish Barua|
|Date Deposited:||09. Jan 2012 04:48|
|Last Modified:||13. Feb 2013 09:24|
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