Governing Board announced
The Access to Insurance Initiative announced Jonathon Dixon, Deputy Chief Executive Officer of Financial Services Board, South Africa and Ramesh Raj Bhattrai, Executive Director of Beema Samiti (Insurance Board), Nepal have been elected as the Chair and Vice-Chair of the Governing Board. The board members include insurance supervisors from Brazil (Armando Vergilio dos Santos Junior) and Ghana as well as the sponsors of the Initiative CGAP, ILO, BMZ, FinMark Trust, IAIS Secretariat and GTZ. Yoshihiro Kawai will represent the IAIS Secretariat.
Dr. Peter Braumüller, Chair of IAIS Executive Committee on the Initiative
“This is another expression of the commitment of the IAIS to the G20s pledge to improve access to finance by promoting successful regulatory, supervisory and policy approaches and elaborating standards on financial access. The IAIS has a broad membership encompassing both emerging and developed markets. Having realised the importance of this issue we already initiated work in 2007 to better understand the dynamics involved so as to respond in an appropriate manner.”
The Access to Insurance Initiative
The Initiative is a global programme to
- strengthen the capacity and understanding of insurance supervisors, regulators and policymakers,
- facilitate their role as key drivers in expanding access to insurance markets, and
- support the implementation of sound policy, regulatory and supervisory frameworks consistent with international standards.
The goal of the Access to Insurance Initiative is to enhance broad-based, demand-oriented and sustainable access to insurance for low-income clients; thereby growing financial inclusion in the insurance sphere.
This website provides information on the Initiative and its sponsors and disseminates all knowledge that is created within the Initiative. more
What is microinsurance
Microinsurance is insurance that is accessed by low-income population, provided by a variety of different entities, but run in accordance with generally accepted insurance practices. Importantly this means that the risk insured under a microinsurance policy is managed based on insurance principles and funded by premiums.
Microinsurance covers an extreme broad variety of services like, for example, life insurance, health, invalidity, cattle breeding, crop and asset insurance.
J Hari Narayan, Chair of IAIS Implementation Committee welcomes the Initiative
“This joint initiative lays the foundation for a deeper and sustained partnership for expanding knowledge and building the capacity of supervisors. I would expect that we will soon be able to make use of this understanding to tackle the challenges and take advantage of opportunities that arise”.
Seminar “Paving the Road for Micro-Insurance in the MENA Region”
From 16 - 17 December 2009, the Seminar “Paving the Road for Micro-Insurance in the MENA Region" took place in Cairo, Egypt. This two day event was hosted by the Egyptian Financial Supervisory Authority (EFSA) in cooperation with the Microinsurance Joint Working Group of the International Association of Insurance Supervisors (IAIS) and the Microinsurance Network, and the Access to Insurance Initiative. more
