The Philippine Approach to Inclusive Insurance Market Development

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The presentation of this case study is structured according to three regimes of microinsurance policy and regulatory reforms in the Philippines during a span of 9 years (2006-2015). The first regime refers to milestone regulations that happened beginning 2006, the second regime refers to regulations issued starting in 2010, and the third regime describes the most recent milestone regulations in 2015.
The study also offers a background of the Philippines, an overview of financial landscape including insurance and microinsurance, conclusions and lessons.

Delivering Microinsurance in the Philippines

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Low-income people are highly vulnerable to risks, especially health problems, the destruction of their houses, assets, harvest or livestock due to natural catastrophes or to losing the breadwinner of the family in an accident. However, the option of purchasing an insurance policy to become capable of dealing with financial shocks remains ineffective due to the lack of access to affordable and responsive insurance.

Philippines: MicroHealth

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In Philippines healthcare financial risk protection is being provided by the government through the Philippine Health Insurance Corporation (PhilHealth), other social protection programs, and by the licensed private insurance companies and Health Maintenance Organizations (HMOs). In 2014, 87% of Filipinos were covered by PhilHealth and the 13% of uncovered population belonged to the low-income and informal sectors, which are the target market of Microinsurance.

Aiding the disaster recovery process: The effectiveness of microinsurance service providers' response to Typhoon Haiyan.

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The Microinsurance Network collaborated with GIZ RFPI to produce this report looking at how microinsurance service providers responded and performed in terms of claims processing and benefits payments in the Philippines in the aftermath of Typhoon Haiyan, and how that impacted the clients of these service providers.

A field study of microinsurance in the Philippines

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This paper presents the results of an extensive survey of the risks faced by Philippino microentrepreneurs. The authors argue that many of the risks would be best addressed through non-insurance means, but that insurance is appropriate and viable in the management of certain risks for example, the death of a member of a household enterprise. The authors provide a fascinating account of the emergence of microinsurance based on indigenous “insurance like” mechanisms.

CARD MBA, Philippines

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The Center for Agriculture and Rural Development Mutual Benefit Association—CARD MBA— is part of the system of CARD Mutually Reinforcing Institutions (MRI) that also includes CARD Bank, CARD Inc. (a non-governmental organisation or NGO), and the CARD Training Center. The MBA offers life and disability insurance, as well as an obligatory provident fund to CARD Bank and CARD Inc. members. For CARD’s borrowers, MBA offers the All Loans Insurance Package (ALIP), which is a loan redemption scheme.

Micro-insurance in the Philippines: Policy and regulatory issues and challenges

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This study assesses the state of micro-insurance in the country, identifies the players and their performance, and the challenges facing micro-insurance development. The term “micro” pertains to the capacity of a program to handle the small, sometime irregular cash flows of poor households, who have been excluded in the commercial insurance system for a variety of reasons. Micro-insurance products, specifically designed with the poor in mind, will help mitigate risks and reduce the vulnerability of poor households.

Developing principles for the regulation of microinsurance (Philippine case study)

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Low income households find it hard to cope with the risks brought about by an illness or injury, death of a family member, man-made calamities and natural disasters. Demand for microinsurance products is growing and both formal and informal microinsurance schemes have started to emerge to address this need. This paper seeks to provide a better understanding of the micro-insurance market in the Philippines and to draw certain principles for micro-insurance regulation from a review of the Philippine experience with micro-insurance.

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