The Maldives Monetary Authority (MMA) has partnered with the United Nations Development Programme (UNDP) where the UNDP’s Maldives Country Office, together with UNDP’s Insurance Risk and Finance Facility (IRFF), is carrying out a Diagnostic Study in the Maldives.
This study will assess significant areas including the insurance supply-side, and demand-side, the gaps, and opportunities in creating an enabling environment through government policy and regulatory environment, building regulatory capacities, and suggesting suitable approaches towards developing new insurance solutions. The study will not only highlight challenges and opportunities but will also highlight those areas where MMA and UNDP can work together with partners, in creating enabling environments for inclusive insurance and risk financing and to develop specific solutions relevant to the Maldives.
Specifically, through this study, we will be helping the insurance and risk financing stakeholders by:
- assessing the development of the insurance agenda in the Maldives
- assessing the disaster and climate risk insurance development needs and priorities
- facilitating the stakeholders’ dialogue and
- developing an action plan based on the findings.