Micro-insurance Policies for Central America

©image: Agustín Ruiz

The agreement signed between the IDB and REDCAMIF is backed by a $2.4 million investment to develop the business model.

El Nuevo Diario reports comments from IDB's Nicaraguan representative, Mirna Lievano de Márquez: "In Central America there are few insurance services aimed at micro-enterprises, hence the need to promote this area in view of the great work done by families working hard to support our economy".

Source: elnuevodiario.com.ni

More on this topic

Regional insurers urged to offer micro-policies

May 2008

Alesia Rodríguez, one of the leading speakers at the Second Central American Insurance Symposium, suggested that companies in the region should offer micro-policies to the poor.

Micro-policies could cover health and funeral services, two of the main concerns of people of all social classes, Rodríguez said. Micro-policies for funeral expenses had proved particularly popular in other countries, she added.

Micro-insurance Companies for Low-income Sectors

August 2010

For the past year Panama's insurance regulator has been reviewing how to create a micro-insurance market.

Luis Della Togna, head of the insurance regulator, discussed the idea but gave no indication of when micro-insurance companies could be introduced into the market.

"As a guide for Panama's insurance sector, Martha Rodríguez, commercial vice president of Mapfre Seguros Generales Colombia, explained that in Colombia 88% of the country is poor and therefore micro-insurance policies were created to supply this market," reports Laestrella.com.pa.

Insurance Act Delayed in the Panamanian Assembly

November 2011

The passing of the bill – which has already been agreed upon - would allow the development of the micro-insurance market and new distribution channels.

The passing of the bill – which has already been agreed upon - would allow the development of the micro-insurance market and new distribution channels.

Honduran Insurance companies offer new products

January 2009

Micro-insurance and insurance banks are some of the new services that the companies hope to offer in the short term.

Elheraldo.hn reports on its website: "For the manager of the Honduras Chamber of Insurance Companies (Cahda), Jose Moncada, the strategy of the local industry is to use the banks' platform of clients to acquire other types of coverages.