"The Microinsurance Network's vision is for a world where people of all income levels are more resilient and less vulnerable to daily and catastrophic risks through improved access to effective risk management tools.
The Network's mission is to promote the development and delivery of effective insurance services for low-income people by encouraging shared learning, facilitating knowledge generation and dissemination, and providing a multi-stakeholder platform.
In support of its mission, the Microinsurance Network:
- Distils and disseminates lessons learnt to promote client-driven and good-value insurance;
- Raises awareness on the demand and potential for microinsurance among key stakeholders;
- Contributes to the development of good practices for the industry.
The Microinsurance Network works with a broad range of stakeholders and maintains in all its activities low-income at its centre, prioritising work and actions that meet clients’ needs and protects their interests and well-being.
The Microinsurance Network is coordinated by the Board of directors and a secretariat. The chair has been held by Craig Churchill from the ILO since 2002. Michael McCord from the MicroInsurance Centre is the vice chair and treasurer. The Microinsurance Network is organised into a number of working groups, discussion groups and task forces to allow in-depth work on specific topics and issues." (http://www.microinsurancenetwork.org/network.php)
- Microinsurance is the protection of low-income people (those living on between approximately $1 and $4 per day) against specific perils in exchange for regular premium payment proportionate to the likelihood and cost of the risks involved.