Inclusive insurance and risk financing in Mexico. Snapshot and way forward 2024
Inclusive insurance and risk financing in Mexico. Snapshot and way forward 2024
Inclusive insurance and risk financing in Mexico. Snapshot and way forward 2024
June 04, 2024
This report presents the main findings of UNDP’s inclusive insurance and risk finance country diagnostic for Mexico. It sets out key risks, the current inclusive insurance and disaster risk finance landscape, and recommendations to advance inclusive insurance, risk finance and development.
Mexico’s top hazards include tropical cyclones, floods and earthquakes. A legal microinsurance framework is in place, and in 2021, 25.8 million microinsurance policies were active. Disaster risk transfer instruments include catastrophe bonds and insurance for public assets.
Recommendations include generating, collecting and systemizing statistical data from the insurance sector; increasing public funding for the National Civil Protection System; and exploring the possibility of creating a government programme for agricultural catastrophic risk management.
