Insurance Programs
Description
Insurance programs for the BOP empower them to participate in markets by protecting them against risks, such as illness, injury, damage, or loss. The BOP are often more vulnerable to such risks because they are less able to cope with the financial burden caused by unexpected occurrences. Despite this, the BOP are typically ignored by mainstream commercial insurers.
Governments can share the risk of covering BOP communities by: providing fully or partially subsidized coverage for specific services; or paying customers’ premiums and entrusting private sector insurers with the operation of the scheme.