The National Microinsurance Forum 2021 is set this January 26-27, 2021. It will be the first time that the forum will be held online.
According to www.imoney.ph, first regulated in the Philippines in 2009, microinsurance is a subset of microfinance that, like its name denotes, offers insurance products to cover the risks that come with certain life emergencies. However, it is specifically tailored towards low-income households or individuals who will otherwise not have easy access to the financial markets.
Microinsurance premiums cannot go beyond 7% of the current daily minimum wage, while their benefits can cover up to 500 times the daily minimum wage. For example, if the daily minimum wage is ₱600, premiums cannot cost more than ₱42, while its coverage can go as high as ₱300,000.
Like traditional insurance, microinsurance comes in several forms to cover a range of risks. These include health and property risks, such as livestock or cattle insurance, death insurance, crop insurance, and natural disaster insurance. But unlike traditional insurance, microinsurance comes with its own specific characteristics.
The two day event will cover different key areas of Micro Insurance in the Philippines.
The event is organized by Microinsurance MBA Association of the Philippines, Inc. Exlinkevents is the online event manager of the two-day event.
Exlinkevents is a one of the top online and virtual business event management companies in the Philippines. It is one of the first to offer online events management in the Philippines.