000011690 001__ 11690
000011690 005__ 20141205155936.0
000011690 04107 $$aeng
000011690 046__ $$k2008-10-12
000011690 100__ $$aSmolka, Anselm
000011690 24500 $$aMicroinsurance Schemes for Property: Examples from Latin America

000011690 24630 $$n14.$$pProceedings of the 14th World Conference on Earthquake Engineering
000011690 260__ $$b
000011690 506__ $$arestricted
000011690 520__ $$2eng$$aMicroinsurance can be defined as the provision of insurance to low-income households that otherwise do not have access to insurance. It is a natural supplement to microfinance and has the potential of creating a new market for the private sector while complementing the public sector’s efforts towards social security for workers in an informal economy. The challenges of microinsurance are manifold. Premium income is low, administrative costs tend to be relatively high, and infrastructure for insurance is lacking. Intimate knowledge of local conditions and requirements is indispensable. The policy-holders are poor and often illiterate people. They often do not dispose over a bank account and may not have a regular income. Therefore, the design of microinsurance products requires innovative solutions regarding distribution channels, premium payments and loss regulation. The design of the policy must be kept as simple as possible. Further on, PML estimates for microinsurance risks are normally much higher than for traditional business because the clientele and their property are more vulnerable to natural disasters. This is due to often poor construction standards and/or dangerous locations. An innovative solution from Colombia, combining newly developed life and property products for low-income groups and micro-entrepreneurs has been successfully implemented. In addition a solution to protect the balance sheet of microfinance institutions in case of natural disasters has been developed. Based on the Colombian experience similar business models are currently being designed in other Latin American markets. Microinsurance with its new challenges opens a promising and important new field of application for EQ-Engineering within the framework of modern disaster management.

000011690 540__ $$aText je chráněný podle autorského zákona č. 121/2000 Sb.
000011690 653__ $$aMicroinsurance, Modelling, Colombia

000011690 7112_ $$a14th World Conference on Earthquake Engineering$$cBejing (CN)$$d2008-10-12 / 2008-10-17$$gWCEE15
000011690 720__ $$aSmolka, Anselm$$iMoser, Andreas$$iAllmann, Alexander$$iHollnack, Dirk$$iSpranger, Michael
000011690 8560_ $$ffischerc@itam.cas.cz
000011690 8564_ $$s308869$$uhttps://invenio.itam.cas.cz/record/11690/files/S01-01-005.pdf$$yOriginal version of the author's contribution as presented on CD, Paper ID: S01-01-005.
000011690 962__ $$r9324
000011690 980__ $$aPAPER