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Press releases
April 2012
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Microinsurance coverage expanding at breathtaking pace according to ILO and the Munich Re Foundation
10 April 2012 - The number of microinsurance schemes worldwide has increased substantially over the past five years and now reaches an estimated 500 million worldwide, according to the Microinsurance Innovation Facility of the International Labour Organization and the Munich Re Foundation. Microinsurance aims to protect poor people against risks - such as accidents, illnesses, death in the family, natural disasters and property losses - in exchange for insurance premium payments tailored to their preferences and capacity to pay.
November 2010
May 2010
January 2010
- Z Zurich Foundation supports the ILO to improve microinsurance's efficiency and scale
28 January 2010 - The Zurich Foundation has donated 3 million Swiss Francs (USD 2.8 million) to the ILO's Microinsurance Innovation Facility to increase insurance coverage among low-income families. The ILO's Microinsurance Innovation Facility - created in 2008 with the support of the Bill & Melinda Gates Foundation - will use the funds to launch a new round of innovation grants to promote projects that combine scale and efficiency through the use of technology.
December 2009
- Insurance providers get support to invest in low income market
9 December 2009 - The ILO's Microinsurance Innovation Facility issued a call for grant proposals to encourage insurance providers to experiment with new products and develop strategic partnerships that will bring affordable insurance products to working poor in developing countries. To overcome the major challenges associated with health financing for low-income households, the Facility proposes a special emphasis on health microinsurance, but also welcomes applications for projects focusing on high-impact products and innovative distribution channels.
February 2009
August 2008
April 2008
- Microinsurance: ILO and Gates foundation join forces to develop range of insurance products in developing countries
April 2008 - A new partnership between the ILO and the Bill and Melinda Gates Foundation aims to develop new kinds of insurance and improve existing products to promote decent work for tens of millions of low-income people in the developing world. The US$34 million Gates Foundation grant will help create the Microinsurance Innovation Facility, a one-of-a-kind, five-year initiative that will provide grants and technical assistance to dozens of organizations serving the poor.
December 2007
April 2007
- Combining microinsurance and new technologies to protect the poor
05 April 2007 - Microcredit can help the poor rise above poverty. Microinsurance can help them stay there. By providing protection against certain perils, microinsurance complements other financial and social services. Still, its development relies on significantly reducing operating expenses relative to premiums.
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