Risk

In Davos, Big Insurers Embrace 'Micro' Insurance

The aim is to spread coverage to developing countries where people are chronically underinsured

DAVOS 2015: Davos cable car

Eight big insurers, brokers, and reinsurers in Davos announced the creation of a group to support "micro" insurance, which is for people in the developing world who can't or don't get insurance through the regular market. This could be a big deal because poor countries are chronically uninsured. When disaster strikes, very little insurance money flows in afterward to help with the rebuilding. That explains why areas hit by floods and earthquakes still look like disaster zones years later.

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