Definition of "microinsurance" [microinsurance]

• A type of microfinancial service aimed at low-income people and communities, and typified by low premiums and coverage limits (noun)

Wiktionary.org : Text is available under the Creative Commons Attribution-ShareAlike License

• "So-called microinsurance costs the customer as little as 67 cents a year and is designed to help low-income individuals limit their financial risk when they buy construction material or fertilizers."
• "Better weather information will also make possible the development of services, such as microinsurance, which can be based on weather data indexes, such as rainfall."
• ""Our investment in LeapFrog is a demonstration of our support of a socially-responsible sector such as microinsurance," says Paolo De Martin, Chief Financial Officer of SCOR."