Welcome Remarks - FSC Microinsurance seminar 2016

Speeches • July 03, 2016 • by: FSC • [Download Document]

Delivered by the Acting Deputy Executive Director - Janet Johnson Haughton

This Seminar is one of the many steps along the path to establish a robust and vibrant microinsurance sector, where low income persons across Jamaica can have access to high-quality financial products and services. Many low income individuals in Jamaica and around the world do not have access to financial services. Low income individuals tend to be the most vulnerable to unexpected events such as illness, death of loved ones, natural disasters and property losses. Without access to financial services, an individual‘s ability to cope or to recover from these events is difficult.  It is for this and other reasons why financial exclusion is considered to be a contributing factor to poverty by many governments and international agencies.[1] The potential benefits of financial inclusion are economic growth and development, social cohesion and reduced income inequality.

[1] Microfinance Centre, Financial Exclusion,[Online] Available: http://www.mfc.org.pl/en/content/financial-exclusion Accessed [April 27, 2016]