Analysis: The win-win potential of microinsurance for migrants

International migrants send home over US$ 400 billion a year, yet they and their families often lack basic social protection. That is where microinsurance can step in – Published on ILO, Oct. 29, 2012.

GENEVA (ILO News) – Migrants often serve as the equivalent of an informal insurance policy when adversity strikes their families back home but they themselves tend to be vulnerable and have limited access to social protection in host countries. Insurance could help address some of the risks involved but it is often too costly, complex and difficult to access for many low-income migrants.  

“These households require simple products that can be delivered inexpensively and conveniently, characteristics common to microinsurance,” says Craig Churchill, head of the ILO’s Microinsurance Innovation Facility. “The benefits could be substantial, both for insurers and migrants.”

A wide range of insurance schemes could be offered to them, including accident or repatriation insurance, remittance flow protection and cover for the migrants’ families in their home countries.

Microinsurance is a type of insurance aimed at protecting poor people against risk, (accident, illness, death in the family, natural disasters, etc.), in exchange for payments tailored to their needs, income and level of risk.

Some constraints: … (full text).


Domestic workers in Europe falling through the loopholes, on ILO, Oct. 24, 2012;

Labour standards, on ILO.

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