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Uptake of Multiple Microinsurance Schemes: Evidence from Sri Lanka

Bendig, M and Arun, T (2016) 'Uptake of Multiple Microinsurance Schemes: Evidence from Sri Lanka.' Geneva Papers on Risk and Insurance: Issues and Practice, 41 (2). 205 - 224. ISSN 1018-5895

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Abstract

© 2016 The International Association for the Study of Insurance Economics 1018-5895/16. Since it is common among households to use more than one form of microinsurance, this paper estimates the uptake of different kinds of microinsurance by the same population. We use a multivariate probit model which examines the participation in the different forms of insurance simultaneously. By doing this, we can establish whether participation patterns in different types of microinsurance options indicate if the participation in specific insurance schemes is complementary or a substitute. We establish that membership of a microfinance institution means that households are more likely to have purchased an insurance policy. Furthermore, the study describes a need for more inclusive and composite packages of microinsurance products for greater financial inclusion of the poor.

Item Type: Article
Subjects: H Social Sciences > HF Commerce > HF5601 Accounting
Divisions: Faculty of Social Sciences > Essex Business School
Faculty of Social Sciences > Essex Business School > Essex Accounting Centre
Depositing User: Jim Jamieson
Date Deposited: 20 May 2016 14:29
Last Modified: 30 Jan 2019 16:23
URI: http://repository.essex.ac.uk/id/eprint/16628

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