Ramanathan, C.S.Goldberg, Mike2012-08-132012-08-132008-11https://hdl.handle.net/10986/10266This note discusses the rapidly evolving issue of micro insurance in Latin America and how microfinance institutions (MFIs), insurance companies and donors can respond to its challenges. This note is part of a series summarizing the Department of International Development-Latin American Markets and International Trade Program (DFID-LAMIT) eight-part distance learning program with South American microfinance networks and government officials. This note addresses three critical questions about micro insurance in Latin America. 1) What is micro insurance? 2) Is micro insurance a very useful way for low income households to manage their risks? 3) What are the challenges for expanded coverage of commercial micro insurance in Latin America, and what can governments, donors and investors do to help?CC BY 3.0 IGOACCESS TO FINANCIAL SERVICESACCESS TO INSURANCEACCIDENT INSURANCEAFFORDABLE PRICEAMOUNT OF SAVINGSANNUAL EARNINGSBANKSBIDSBORROWERCLAIMS PROCESSINGCOMMISSIONSCONSUMERCONSUMER GOODSCONSUMER LOANCOOPERATIVESCOVERAGECREDIT UNIONSDEBIT CARDSDEBTDEMOGRAPHIC CHARACTERISTICSDISABILITYDISASTERSDISPOSABLE INCOMEDISTANCE LEARNINGDROUGHTECONOMIC MANAGEMENTENABLING ENVIRONMENTENDOWMENTSFINANCIAL INSTITUTIONSFINANCIAL PRODUCTFINANCIAL SECTORFINANCIAL SERVICESFORMAL FINANCIAL INSTITUTIONSHEALTH INSURANCEHOUSEHOLDSINFORMATION MANAGEMENTINFORMATION SYSTEMINFORMATION SYSTEMSINSTALLMENTSINSURANCE COMPANIESINSURANCE COMPANYINSURANCE CONTRACTSINSURANCE COVERAGEINSURANCE MARKETINSURANCE PENETRATIONINSURANCE PRODUCTSINSURANCE SCHEMESINTERNATIONAL DEVELOPMENTINTERNATIONAL STANDARDSINVESTINGISSUANCEJOB LOSSLIFE INSURANCELIFE INSURANCE COMPANIESLIFE INSURANCE PRODUCTLIVING STANDARDSLOAN REPAYMENTLOW INCOMELOW-INCOMELOW-INCOME PEOPLELUMP SUMMARKET DEVELOPMENTMFIMFISMICROCREDITMICROFINANCEMICROFINANCE INSTITUTIONSMICROINSURANCEMORAL HAZARDNATIONAL INSURANCENEW MARKETPENETRATION RATEPENSIONPORTFOLIOPREMIUM PAYMENTPREMIUM PAYMENTSPREMIUMSPRIVATE INSURANCEPROGRAMSRAPID GROWTHRATESREGULATORY FRAMEWORKSREINSURANCERESERVERESERVE FUNDRESERVESRISK EXPOSURERISK MANAGEMENTRISK MANAGEMENT SYSTEMRISK MANAGEMENT SYSTEMSRISK POOLINGSALESALESSALES STRATEGYSAVINGSSENIORSETTLEMENTSMALL AMOUNT OF SAVINGSSMART CARDSSOLVENCYSTART-UPTECHNICAL ASSISTANCETRUST FUNDUNDERWRITERUNDERWRITINGWORKING CAPITALWorld Bank10.1596/10266