Demography and social economy, 2012, 2(18):115-123
doi: https://doi.org/10.15407/dse2012.02.115

SHIRINYAN L.V.


AN EXPERIENCE OF THE MICROINSURANCE IN THE CENTRAL AND SOUTH AMERICA
Section: Social policy.
Language: Ukrainian
Abstract: Microinsurance is a type of civil legal relations concerning the protection of property interests of poor and low-income people in exchange for low insurance premiums, small sum insured and simplified system of insurance. During the last years the system of microinsurance in the countries of America rapidly develops and it makes the necessary to study such experience from the position of the possible application in Ukraine. Similar problems in agrarian sector afford ground for using of the experience of Mexico for weather index insurance for protection of small farmers and rural population. Such approach can substantially cut down the expenses of the state budget and improve the quality of help for victims. Insurance product «Housing Ticket» in Brazil may become embedded in the rural regions of Ukraine with similar risks.
Experience of Peru, where a separate “microinsurance law” was accepted, shows that is possible to find the official legislative settlement. It suggests to include the section on microinsurance in the Law «On insurance», within the framework of which it will be given the possibility of wide participation not only microinsurers but also traditional insurers.
In accordance of the article 46 of the Constitution of Ukraine citizens have a right on state social defence and that is why the microinsurance can be considered as social security of a voluntarily form. On the other hand the microinsurance has own lines which go beyond the scope of the state social defence and represents the additional possibility of the protection of low-income people, which has some advantages as compared to the traditional systems of social security:
1. It can cover the workers of informal economy, population with a minimum salary level and self-employed.
2. The sources of means for microinsurance and for state social protection will be different.
3. Commercial organizations can carry out the microinsurance.
4. The less are the bureaucratic restrictions. It will be carried out wherein traditional insurers are not interested to work (step-out rural locality).
5. It requires the fast reaction on the needs of the insurance protection and the paying capacity of poor people.
6. The insurance compensation is small and that is why an economic effect of abuse will be small, even if such will happen.
7. It will enable to decrease social tension in society.
8. The government will divide the budgetary financing with microinsurers: the government buy the microinsurance policy while microinsurer pays the insurance compensation. It is an example of the government-private partnership and may be more advantageous for the country as compared to a direct social help.
Key words: microinsurance experience, regulation, microinsurance products, Central and South America.
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