MicroInsurance Centre Briefing Note # 2: How Poor People Manage Risk

Publication Date: Dec 2003
Published by: MicroInsurance Centre
Document Type: Paper

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What is the role of microinsurance?

This document discusses the various risks to which the poor people are exposed, such as natural disasters, illness or an accident.

The document also deals with the following:

• Impact assessment of these risks and shocks on the lives of poor people;
• Formal and informal ways developed by the poor to cope with these risks;
• The need for a formal microinsurance sector;
• The ability of the poor to cope with the formal microinsurance sector.

Further, the document discusses the need to come out with flexible insurance products so as to meet the needs of these poor people.