The International Association of Insurance Supervisors (IAIS) has produced a joint issues paper with the MicroInsurance Network regarding the role of mutuals, cooperatives and community-based organisations (MCCOs) in insurance markets. The paper highlights the important and varied roles MCCOs play in providing insurance services in jurisdictions that would otherwise have inadequate or no insurance services.

The paper comments on the issues that arise regarding regulation and supervision and provides wide ranging examples of the types of services MCCOs can provided. Examples include situations where the MCCO can act as:

• distributors – by explaining and offering products to clients;
• premium collectors – by consolidating insurance premiums which can be aggregated and transferred to the insurer; and
• part of the claims assessment process – if geographically close to the customer, MCCO’s can aid in the assessment of claims.

To read the IAIS press release and issues paper, please go to the IAIS website at