“Pure” Intentions and Practice: Challenges and Good Practices in Consumer Protection in Microinsurance

This paper explores the challenges and good practices in consumer protection in microinsurance. It classifies consumer protection challenges into four main categories: education and information, product and process design, regulation and financial soundness of providers and programs, and capacities and responsibilities of stakeholders. The paper further develops a checklist of attributes that an effective consumer protection regime will exhibit in each of the four categories. The paper covers the following sections in detail:

• Issues in consumer protection with a focus on suitable approaches to address each category;
• Case studies that explore consumer protection issues in the Philippines and Colombia;
• Good practices adopted in the Philippines and in Colombia to promote consumer protection;
• Measures that can improve the ability of stakeholders to meet consumer protection needs.