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| 47.
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Micro-insurance Sector Development (TA No.4761-SRI) |
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Country |
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Colombo |
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Name of the client |
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Ministry of Finance and Planning, Sri Lanka |
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Name of the Funding
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Asian Development Bank |
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Project Duration |
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June 2006- Janu. 2007 |
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Scope of the Project |
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The goal of this technical assistance (TA) is to establish an enabling environment for micro-insurance and facilitate the development of the micro-insurance sector for risk mitigation of the poor. The purpose of the TA is to (i) establish an appropriate legal and policy framework for the promotion of micro-insurance, (ii) increase the accessibility of affordable micro-insurance products by the poor, and (iii) enhance capacity of potential micro-insurance providers. |
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Services Provided |
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Review and analyze the current insurance laws and regulations in Sri Lanka with a view to formulating a policy and legal framework that is conducive to the development of micro insurance;
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In consultation with stakeholders, assess the adequacy of the current legal and regulatory rrangement in promoting micro-insurance services; and
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Based on discussions with stakeholders, a review of relevant documents, and consultations with other consultant experts (especially the micro-insurance product development specialists), recommend policy and legal amendments.
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