P1 a day insures everybody

HE WHO is earning a penny out of ravaging garbage on streets has to think several times of enrolling himself to an insurance firm to secure coverage when he’s gone or in time of disablement. But with the Department of Finance’s (DOF) P1 a day premium for insurance coverage program, we may include those that sell plastic cellophanes at public markets.
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TOMA in Cagayan de Oro, April 24-27, 2012

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IC, DoF holds three-day training on insurance advocacy

CAGAYAN DE ORO CITY, April 24 (PIA) -- As part of the nationwide micro-insurance literacy campaign to strongly push for the wider acceptance of micro-insurance among the informal and low-income sectors, the Insurance Commission (IC), along with the Department of Finance (DoF), is currently holding a three-day training on micro-insurance advocacy at the Mallberry Hotel Suites, here.   
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TOMA in La Union Pics, April 16-20

Training on Microinsurance Advocacy and Seminar were recently conducted at the Oasis Hotel in San Fernando. La Union for Region 1.   Please click here for photos

Insurer reports high take-up of microinsurance products

PHILIPPINE Prudential Life Insurance Company, Inc. (Philippine Prudential) saw a surge in microinsurance premiums and payouts last year -- testament to the public’s need for affordable financial products that provide protection against risks.  

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Prudential notes increase in 2011 microinsurance claims

THE Philippine Prudential Insurance Co. Inc. has reported paying more than P22 million worth of claims in 2011, a substantial increase compared to 2010 when payouts totaled only P2.49 million.  Click here for more.

Many Filipino households ‘unbanked’ -- BSP

MAJORITY of Filipino households are not saving for the future, the Bangko Sentral ng Pilipinas (BSP) yesterday said as it released the results of its first Consumer Finance Survey that showed only two out of 10 families maintain deposit accounts    Please click here for more.

Philam premium income jumps 13%

THE PHILAM Group’s consolidated total premium income surged by around 13% last year, buoyed by new business as it beefed its sales force. Click here for more.

Philam working on insurance for the masses payable by mobile

Insurance for the masses with premiums payable using mobile phones is in the works at the Philam Group, the insurer revealed Tuesday.  Please click here for more. . .

Taking microinsurance education on the road in the Philippines

In 2010, the insurance landscape of the Philippines welcomed a transformation with the release of the National Strategy and the Regulatory Framework for Microinsurance, which paved the way for “insurance for the poor” to possibly replicate the successes of “finance for the poor”. According to the Economics Intelligence Unit survey of 2010, the Philippines’ microfinance sector is the second most thriving out of 54 countries. For the microinsurance sector to rise up to this standard, it would have to go through the birthing pains inflicted by some prevailing misconceptions about insurance and mistrust of the insurance industry in general.   Ciick here for more. . .

Microinsurance sector in Philippines lauded - Insurance firms adopt novel ways to reach poor

Microinsurance now covers some 500 million of the poor across the globe, thanks to the increase in low-premium products in Asian markets, especially the Philippines.  Please click here

Microinsurance requiring effective system to benefit vulnerable poor

Insurance companies in Africa and the world over have increased effectiveness in the development, distribution and management of micro insurance products to ensure valuable risk management that will help reduce vulnerability of the poor in the society.  Please click here

Capital requirements threaten stability of Philippines market

The Philippines insurance market has recovered from the turbulence of the global financial crisis but faces significant hurdles with the introduction of higher capital requirements, according to an AM Best report.  Please click here

Microinsurance reaches 500m people

Microinsurance aims to protect poor people in emerging nations against traditional risks such as accidents, illnesses, death in the family, natural disasters and property losses with premium payments tailored to their capacity to pay, according to the Microinsurance Innovation Facility of the International Labour Organization and the Munich Re Foundation  Please click here

500 million microinsurance schemes worldwide, says report

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Microinsurance goes macro

Microinsurance is the less well known protection counterpart to microfinance; in theory protecting the poorer members of a society from high premiums and the unexpected is a vital component in economic growth. . . Please click here

Financial tool to deal with poverty

Micro-insurance, especially combined with micro-financing, is a major developmental tool for poverty alleviation . . .Please click here

Microinsurance Isn't Just for Emerging Markets

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MICROCAPITAL BRIEF: Microinsurance Reaches 3m in the Philippines, More Expansion Predicted in Microcredit as Commercial Banks Enter Microfinance

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