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Regulation in Microinsurance Markets: Principles, Practice, and Directions for Future Development

Christian Biener, Martin Eling and Joan T. Schmit ()

No 1305, Working Papers on Finance from University of St. Gallen, School of Finance

Abstract: Regulation of any market can either promote or impede its development, thus affecting social welfare. In this paper, we are concerned with the impact of regulation in microinsurance markets. We evaluate existing and potential regulatory mechanisms with regard to its underlying economic rationale, and offer recommendations intended to enhance support and minimize barriers for microinsurance market development. Specifically, we recommend avoiding incentives for regulatory arbitrage; responding to the characteristics of the microinsurance market, including licensing, capital, reinsurance, and distribution systems; enhancing the market through financial literacy initiatives; and providing support in the form of data collection and management training.

Keywords: Developing countries; microinsurance; regulation. (search for similar items in EconPapers)
Pages: 40 pages
Date: 2013-01
New Economics Papers: this item is included in nep-mfd
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Journal Article: Regulation in Microinsurance Markets: Principles, Practice, and Directions for Future Development (2014) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:usg:sfwpfi:2013:05

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