Prévoir News

Micro-insurance Rules Nearly Finished

CAMBODIA’S micro-insurance industry could launch as soon as August, as officials say rules governing the sector are nearing completion.

The Ministry of Economy and Finance aims to hold a meeting to receive public feedback this month before finalising regulations drafted last year, the Ministry’s Insurance Division Head In Meatra said.
“We hope that we will launch [micro-insurance] sometime in August or later this year.”

Micro-insurance On The Way

REGULATIONS to cover large micro-insurance initiatives in Cambodia have been drafted by the Ministry of Economy and Finance, providing a potential boost for the nascent insurance industry.

Micro-insurance – the provision of low-cost insurance to large low-income populations – has gained popularity in countries such as India and the Philippines but has so far been limited in Cambodia to pilot projects carried out by nonprofit organisations.

Micro-insurance Boost

Women sift through rice in Battambang. Micro-insurance could be sold to low-income workers.

REGULATIONS to cover large micro-insurance initiatives in Cambodia have been drafted by the Ministry of Economy and Finance, providing a potential boost for the nascent insurance industry.

Micro-insurance For Fhe Poor Coming To Cambodia

Cambodia's Ministry of Finance and the International Finance Corporation are preparing for a micro-insurance industry that could sell funeral insurance and other types of health and property insurance to the poor.

"Depending on the kind of insurance, the monthly premium might be 50 cents, and the payout $1,000," said Margarete Biallas, an IFC manager who held a workshop November 20 for about 70 people from micro-finance NGOS and banks, and insurance companies that might participate.