- Tom Geladé, microinsurance project coordinator at BRS
The threshold for insurance is high for the poorer population in the South, because the few resources that come in are needed to survive. The products offered by large insurers do not usually meet the needs of entrepreneurs or farmers with few resources. Finally, cultural factors can also constitute an obstacle.
Microinsurance can cover many risks, depending on the needs of the insured person. Two very common types of microinsurance are: