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. . .
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