Micro Insurance to be Discussed at Road Shows

Road shows launched to explain the future of micro insurance regulation PE, Cape Town, Bloemfontein, Johannesburg and Durban among the cities that will be visited.

Micro insurance in South Africa focuses mostly on burial insurance, which is considered very important among a significant portion of the country's population. It also incorporates any type of insurance that targets low income groups that protects consumers from daily risks.

Micro insurance has been discussed at length by regulators and industry leaders in the past few months, leading to a report being brought out on the issue, entitled 'The Future of Micro Insurance Regulation in South Africa'. Released in April of this year, the report welcomed comment from the public, and it has been stated that the first round of comments has already been received.

To bring the subject of the future of micro insurance regulation to a wider public, the National Treasury has decided to launch a number of road shows throughout the width and breadth of South Africa.

These road shows will be of particular interest to those involved in the burial insurance industry, including burial societies, funeral parlors, money lenders, church leaders and traditional tribal leaders. Naturally, however, the road shows will not be restricted to these segments of the industry and anyone who wishes to attend can do so. To make these events even more accessible to the general public, the National Treasury announced that it will not be charging entry for the road shows.

The first road show stop was held at the Port Elizabeth Nelson Mandela Metropolitan University yesterday, and will move on today to Cape Town. This week's schedule will end off on Thursday in the Bloemfontein Indaba Auditorium.

Next week's itinerary takes the road show to Johannesburg on Thursday the 16th, and then on to Durban the following Monday. The road shows will end off on Thursday, October 28th at the Conference Hall at Polokwane International Airport.