The insurance commission is establishing new laws for microinsurance

As a reaction against the bad results of microinsurance, the supervisory authority has established new laws designed to better manage and promote the growth of this activity. The written premiums amount to 2.5 billion PHP (54 million USD). Despite the premiums of only one peso per day, the penetration rate of microinsurance remains very poor. The number of insured is of 7 million.

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