COVID Crisis Highlights Urgent Need for Inclusive Insurance

Governments and insurance companies must increase efforts to help millions of low-income people, households and businesses cope with the impacts of the COVID crisis and climate change - or risk exacerbating wealth and social gaps in emerging economies and undermining political and financial system stability.

The pandemic highlights the crucial role of insurance as a safety net when people lose their jobs or are unable to get to work, when bread-winners get sick or die, or when small businesses are forced to shut. Yet the number of customers in emerging markets with insurance cover is still alarmingly low.