Rural banks welcome microinsurance

The Rural Bankers Association of the Philippines (RBAP) and the Microenterprises Access to Banking Services (MABS) program has expressed its support for initiatives to introduce microinsurance in the country.
Both have also started working with other groups in the insurance industry to support the National Strategy on Microinsurance formally launched last month. These include technical assistance and training for insurance providers in developing and enhancing the quality of microinsurance products and services in the country.
As part of this initiative, RBAP-MABS, USAID, MICRA/Philippines and Mercy Corps MAXIS also held a workshop last Feb. 1-3 at the Asian Institute of Management (AIM) in Makati City entitled “Developing Successful Microinsurance Products.”
RBAP president Joseph Omar Andaya said the event dovetails with the government’s efforts towards developing the Philippines as the microinsurance capital of Asia.
“It (the event) proved to be a fitting follow-through to the recent launching of the National Regulatory Framework and National Strategy for Microinsurance,” Andaya added.

Philippine Star – The Rural Bankers Association of the Philippines (RBAP) and the Microenterprises Access to Banking Services (MABS) program has expressed its support for initiatives to introduce microinsurance in the country.

Both have also started working with other groups in the insurance industry to support the National Strategy on Microinsurance formally launched last month. These include technical assistance and training for insurance providers in developing and enhancing the quality of microinsurance products and services in the country.

As part of this initiative, RBAP-MABS, USAID, MICRA/Philippines and Mercy Corps MAXIS also held a workshop last Feb. 1-3 at the Asian Institute of Management (AIM) in Makati City entitled “Developing Successful Microinsurance Products.”

RBAP president Joseph Omar Andaya said the event dovetails with the government’s efforts towards developing the Philippines as the microinsurance capital of Asia.

“It (the event) proved to be a fitting follow-through to the recent launching of the National Regulatory Framework and National Strategy for Microinsurance,” Andaya added.

Read the complete article on Philippine Star online.