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Developing Principles for the Regulation of Microinsurance : Philippine Case Study

Author

Listed:
  • Gilberto M. Llanto

    (PIDS)

  • Ma. Piedad S. Geron
  • Joselito S. Almario

Abstract

Illness or injury, death of a family member, man-made calamities and natural disasters have a devastating effect on those poor households cash flow, liquidity and earning capacities and thus, on household welfare. Demand for micro-insurance products is growing in view of continuing risks to household welfare and the seeming inability of the government to address this issue. This study 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. The study describes how policies, legal, regulatory and supervisory framework governing insurance have shaped the development of the market and vice versa. The Philippine experience on the provision of micro-insurance services and the interaction between the insurance providers and the regulator may help inform the development of certain principles for micro-insurance regulation.

Suggested Citation

  • Gilberto M. Llanto & Ma. Piedad S. Geron & Joselito S. Almario, 2008. "Developing Principles for the Regulation of Microinsurance : Philippine Case Study," Development Economics Working Papers 22654, East Asian Bureau of Economic Research.
    • Handle: RePEc:eab:develo:22654
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    File URL: http://www.eaber.org/node/22654
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    References listed on IDEAS

    as
    1. Alfiler, Maria Concepcion P., 1992. "Prepaid Managed Health Care: The Emergence of Health Maintenance Organizations as Alternative Financing Schemes in the Philippines," Working Papers WP 1992-07, Philippine Institute for Development Studies.
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    Cited by:

    1. Llanto, Gilberto M., 2015. "Financial Inclusion, Education, and Regulation in the Philippines," ADBI Working Papers 541, Asian Development Bank Institute.

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      More about this item

      Keywords

      micro-insurance; catastrophic events; moral hazard; market conduct regulation; product regulation;
      All these keywords.

      JEL classification:

      • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
      • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
      • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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