Industry Promotes Microinsurance to Expand Protection for Vulnerable Families
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Nan Shan Property Insurance is expanding its micro fire inconvenience insurance, partnering with Kinmen and Lienchiang counties effective May 15, completing coverage for all three outlying island counties. The insurance covers low-income households registered by local governments, providing a fixed benefit of NT$8,000 per person in case of fire. Over 200,000 people have been covered, representing more than 40% of Taiwan's low-income population. Hongtai Life Insurance has also been sponsoring microinsurance since 2015.