An unprecedented global partnership has been forged to promote inclusive and sustainable insurance markets around the world and to help achieve the UN Sustainable Development Goals.

The Microinsurance Network, the multi-stakeholder platform for the world’s microinsurance community of experts and institutions, has joined UN Environment’s Principles for Sustainable Insurance Initiative (PSI), the largest collaborative initiative between the United Nations and the insurance industry. The PSI-Microinsurance Network partnership will advance the social and financial inclusion dimension of sustainable insurance with the goal of closing the insurance protection gap— the gap between economic losses from all disaster events and insured losses. According to Swiss Re, the global insurance protection gap in 2016 was USD 121 billion*.

Source: Microinsurance Network