Government officials and private sector players from the Asia-Pacific region agree microinsurance can provide more than the infusion of much needed capital during times of disasters and distress; it can restore a sense of dignity and empowerment.
That may be one reason development stakeholders are showing greater interest in adding microinsurance — also called inclusive insurance — to existing adaptation measures, said Emmanuel Dooc, chairman of the Mutual Exchange Forum on Inclusive Insurance.
“Providing people with financial coverage especially in times of disasters and risks is crucial. [Through microinsurance], people’s self-esteem is intact because the payment, however little, comes from their own pockets,” he explained during the MEFIN network’s public-private dialogue last week.
About the author
Lean Alfred Santos@DevexLeanAS
Lean Alfred Santos is a former Devex development reporter focusing on the development community in Asia-Pacific, including major players such as the Asian Development Bank and the Asian Infrastructure Investment Bank. He previously covered Philippine and international business and economic news, sports and politics.
