Initial Market Assessment : Country Scoping Note--Ghana
Donors could assist in clarifying the role, building the capacity, and potentially helping to secure funding of key disaster risk management organizations in Ghana. Engagement in Ghana to develop private sector property catastrophe risk and agricul...
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| Format: | Report |
| Language: | English en_US |
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Washington, DC
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2015/07/24773651/initial-market-assessment-country-scoping-note-ghana http://hdl.handle.net/10986/22430 |
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okr-10986-22430 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
LIVING STANDARDS FLOODING TOTAL COST EARLY WARNING SYSTEMS ALLOWANCE RISKS REGULATORY FRAMEWORK ECONOMIC GROWTH INSURANCE SUPERVISORS STORM EARLY WARNING RISK REDUCTION FINANCIAL MANAGEMENT STOCK INCOME INTEREST LIFE INSURANCE GOVERNMENT FUNDING GOVERNMENT SPENDING EXCHANGE INSURER PROGRAMS INFORMATION DEVELOPING COUNTRIES HEALTH INSURANCE INSURANCE CORPORATION WELFARE INSURANCE SOLUTIONS CAPACITY BUILDING PRICING MODELS DISASTER PRIVATE INSURANCE CASH TRANSFER MARKET INFRASTRUCTURE DISASTER PREVENTION PENSION DISASTER EVENTS INSURANCE SCHEME EARTHQUAKES INSTRUMENTS INSURANCE MARKET INSURANCE COMPANY BUDGET CATASTROPHE INSURANCE DISASTER RELIEF CROP INSURANCE REINSURERS RIOT RELIEF DISASTER RESPONSE FEASIBILITY INSURANCE MARKETS INSURANCE PRODUCT PUBLIC FUNDS FLOODS DEBTS INSURANCE REGULATIONS LOCAL INSURANCE COMPANY NATURAL DISASTERS MARKETS DEBT LOCAL GOVERNMENT CAPITAL REQUIREMENTS PUBLIC FINANCE DISASTERS INSURERS SOCIAL SECURITY EMERGENCY RESPONSE FIRE FARMERS CONVENTIONAL INSURANCE RESERVES INSURED LOSSES FINANCE PUBLIC INVESTMENT BANKS REINSURANCE REGULATIONS HUMAN CAPITAL EMERGENCY EARTHQUAKE VALUE OF ASSETS FOOD SECURITY MICRO- INSURANCE DISASTER RISK CLIMATE CHANGE DROUGHT INSURANCE SCHEMES INSURANCE COVER INSURANCE PRODUCTS VALUE CASH PAYMENTS BANK INSURANCE LAW DISASTER RISK FINANCING AGRICULTURAL INSURANCE CLIMATE DEMAND SAFETY NET BAILOUTS DAMAGE PROPERTY INSURANCE INDUSTRY MICRO-INSURANCE DISASTER MANAGEMENT HUMAN CAPITAL DEVELOPMENT MARKET EXPLOSION FLOOD CREDIT GUARANTEE REGULATION POLICY SOLVENCY INSURANCE INSURANCE PREMIUMS ECONOMIC DEVELOPMENT TIDAL WAVES MARKET SHARE SECURITY STOCK EXCHANGE HURRICANE INVESTMENT RISK SHARE INDEMNITY WARNING SYSTEMS POVERTY ALLOCATION FINANCIAL CAPACITY UNDERWRITING INSURANCE SECTOR DISASTER RISK REDUCTION DECENTRALIZATION LAW FINANCIAL SUPPORT INVESTMENTS RISK MANAGEMENT INSURANCE COMPANIES SAFETY COVERAGE INSURANCE PENETRATION LAND MANAGEMENT PRICES GUARANTEE BENEFITS REINSURER INVESTING |
| spellingShingle |
LIVING STANDARDS FLOODING TOTAL COST EARLY WARNING SYSTEMS ALLOWANCE RISKS REGULATORY FRAMEWORK ECONOMIC GROWTH INSURANCE SUPERVISORS STORM EARLY WARNING RISK REDUCTION FINANCIAL MANAGEMENT STOCK INCOME INTEREST LIFE INSURANCE GOVERNMENT FUNDING GOVERNMENT SPENDING EXCHANGE INSURER PROGRAMS INFORMATION DEVELOPING COUNTRIES HEALTH INSURANCE INSURANCE CORPORATION WELFARE INSURANCE SOLUTIONS CAPACITY BUILDING PRICING MODELS DISASTER PRIVATE INSURANCE CASH TRANSFER MARKET INFRASTRUCTURE DISASTER PREVENTION PENSION DISASTER EVENTS INSURANCE SCHEME EARTHQUAKES INSTRUMENTS INSURANCE MARKET INSURANCE COMPANY BUDGET CATASTROPHE INSURANCE DISASTER RELIEF CROP INSURANCE REINSURERS RIOT RELIEF DISASTER RESPONSE FEASIBILITY INSURANCE MARKETS INSURANCE PRODUCT PUBLIC FUNDS FLOODS DEBTS INSURANCE REGULATIONS LOCAL INSURANCE COMPANY NATURAL DISASTERS MARKETS DEBT LOCAL GOVERNMENT CAPITAL REQUIREMENTS PUBLIC FINANCE DISASTERS INSURERS SOCIAL SECURITY EMERGENCY RESPONSE FIRE FARMERS CONVENTIONAL INSURANCE RESERVES INSURED LOSSES FINANCE PUBLIC INVESTMENT BANKS REINSURANCE REGULATIONS HUMAN CAPITAL EMERGENCY EARTHQUAKE VALUE OF ASSETS FOOD SECURITY MICRO- INSURANCE DISASTER RISK CLIMATE CHANGE DROUGHT INSURANCE SCHEMES INSURANCE COVER INSURANCE PRODUCTS VALUE CASH PAYMENTS BANK INSURANCE LAW DISASTER RISK FINANCING AGRICULTURAL INSURANCE CLIMATE DEMAND SAFETY NET BAILOUTS DAMAGE PROPERTY INSURANCE INDUSTRY MICRO-INSURANCE DISASTER MANAGEMENT HUMAN CAPITAL DEVELOPMENT MARKET EXPLOSION FLOOD CREDIT GUARANTEE REGULATION POLICY SOLVENCY INSURANCE INSURANCE PREMIUMS ECONOMIC DEVELOPMENT TIDAL WAVES MARKET SHARE SECURITY STOCK EXCHANGE HURRICANE INVESTMENT RISK SHARE INDEMNITY WARNING SYSTEMS POVERTY ALLOCATION FINANCIAL CAPACITY UNDERWRITING INSURANCE SECTOR DISASTER RISK REDUCTION DECENTRALIZATION LAW FINANCIAL SUPPORT INVESTMENTS RISK MANAGEMENT INSURANCE COMPANIES SAFETY COVERAGE INSURANCE PENETRATION LAND MANAGEMENT PRICES GUARANTEE BENEFITS REINSURER INVESTING World Bank Initial Market Assessment : Country Scoping Note--Ghana |
| geographic_facet |
Africa Ghana |
| relation |
Political Champions Group country note; |
| description |
Donors could assist in clarifying the
role, building the capacity, and potentially helping to
secure funding of key disaster risk management organizations
in Ghana. Engagement in Ghana to develop private sector
property catastrophe risk and agriculture insurance should
be seen as a medium term engagement. Banking penetration is
low, as is insurance and micro-insurance penetration, even
when compared to regional countries. That said, Ghana has
seen rapid growth in the micro-insurance market with the
number of people covered doubling in the last 3 years. The
insurance industry, while competitive, has struggled in
recent years with profitability, indicating there could be
need for insurance capacity building and improved
governance. There may be however opportunities for targeted
investments in the northern part of the country more prone
to drought, aimed at increasing disaster resilience among
vulnerable population using market-mediated solutions. Links
could be explored between social welfare programs and
market-mediated insurance solutions. For example, the
government plans to expand the coverage of the Livelihood
Empowerment against Poverty Program (LEAP) by over ten-fold
in the next three years. These mechanisms could scale up
programs against post flood events or drought events in the
north. Donors could support the integration of
market-mediated insurance solutions within the social
welfare programs. Using local insurance capacity to bear
some of the risk and develop the insurance products could
also be investigated. Such mechanisms delivered through
social welfare programs will create a critical mass of
policyholders, which could spur the development of
commercial agriculture insurance. |
| format |
Report |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Initial Market Assessment : Country Scoping Note--Ghana |
| title_short |
Initial Market Assessment : Country Scoping Note--Ghana |
| title_full |
Initial Market Assessment : Country Scoping Note--Ghana |
| title_fullStr |
Initial Market Assessment : Country Scoping Note--Ghana |
| title_full_unstemmed |
Initial Market Assessment : Country Scoping Note--Ghana |
| title_sort |
initial market assessment : country scoping note--ghana |
| publisher |
Washington, DC |
| publishDate |
2015 |
| url |
http://documents.worldbank.org/curated/en/2015/07/24773651/initial-market-assessment-country-scoping-note-ghana http://hdl.handle.net/10986/22430 |
| _version_ |
1764450931946029056 |
| spelling |
okr-10986-224302021-04-23T14:04:08Z Initial Market Assessment : Country Scoping Note--Ghana World Bank LIVING STANDARDS FLOODING TOTAL COST EARLY WARNING SYSTEMS ALLOWANCE RISKS REGULATORY FRAMEWORK ECONOMIC GROWTH INSURANCE SUPERVISORS STORM EARLY WARNING RISK REDUCTION FINANCIAL MANAGEMENT STOCK INCOME INTEREST LIFE INSURANCE GOVERNMENT FUNDING GOVERNMENT SPENDING EXCHANGE INSURER PROGRAMS INFORMATION DEVELOPING COUNTRIES HEALTH INSURANCE INSURANCE CORPORATION WELFARE INSURANCE SOLUTIONS CAPACITY BUILDING PRICING MODELS DISASTER PRIVATE INSURANCE CASH TRANSFER MARKET INFRASTRUCTURE DISASTER PREVENTION PENSION DISASTER EVENTS INSURANCE SCHEME EARTHQUAKES INSTRUMENTS INSURANCE MARKET INSURANCE COMPANY BUDGET CATASTROPHE INSURANCE DISASTER RELIEF CROP INSURANCE REINSURERS RIOT RELIEF DISASTER RESPONSE FEASIBILITY INSURANCE MARKETS INSURANCE PRODUCT PUBLIC FUNDS FLOODS DEBTS INSURANCE REGULATIONS LOCAL INSURANCE COMPANY NATURAL DISASTERS MARKETS DEBT LOCAL GOVERNMENT CAPITAL REQUIREMENTS PUBLIC FINANCE DISASTERS INSURERS SOCIAL SECURITY EMERGENCY RESPONSE FIRE FARMERS CONVENTIONAL INSURANCE RESERVES INSURED LOSSES FINANCE PUBLIC INVESTMENT BANKS REINSURANCE REGULATIONS HUMAN CAPITAL EMERGENCY EARTHQUAKE VALUE OF ASSETS FOOD SECURITY MICRO- INSURANCE DISASTER RISK CLIMATE CHANGE DROUGHT INSURANCE SCHEMES INSURANCE COVER INSURANCE PRODUCTS VALUE CASH PAYMENTS BANK INSURANCE LAW DISASTER RISK FINANCING AGRICULTURAL INSURANCE CLIMATE DEMAND SAFETY NET BAILOUTS DAMAGE PROPERTY INSURANCE INDUSTRY MICRO-INSURANCE DISASTER MANAGEMENT HUMAN CAPITAL DEVELOPMENT MARKET EXPLOSION FLOOD CREDIT GUARANTEE REGULATION POLICY SOLVENCY INSURANCE INSURANCE PREMIUMS ECONOMIC DEVELOPMENT TIDAL WAVES MARKET SHARE SECURITY STOCK EXCHANGE HURRICANE INVESTMENT RISK SHARE INDEMNITY WARNING SYSTEMS POVERTY ALLOCATION FINANCIAL CAPACITY UNDERWRITING INSURANCE SECTOR DISASTER RISK REDUCTION DECENTRALIZATION LAW FINANCIAL SUPPORT INVESTMENTS RISK MANAGEMENT INSURANCE COMPANIES SAFETY COVERAGE INSURANCE PENETRATION LAND MANAGEMENT PRICES GUARANTEE BENEFITS REINSURER INVESTING Donors could assist in clarifying the role, building the capacity, and potentially helping to secure funding of key disaster risk management organizations in Ghana. Engagement in Ghana to develop private sector property catastrophe risk and agriculture insurance should be seen as a medium term engagement. Banking penetration is low, as is insurance and micro-insurance penetration, even when compared to regional countries. That said, Ghana has seen rapid growth in the micro-insurance market with the number of people covered doubling in the last 3 years. The insurance industry, while competitive, has struggled in recent years with profitability, indicating there could be need for insurance capacity building and improved governance. There may be however opportunities for targeted investments in the northern part of the country more prone to drought, aimed at increasing disaster resilience among vulnerable population using market-mediated solutions. Links could be explored between social welfare programs and market-mediated insurance solutions. For example, the government plans to expand the coverage of the Livelihood Empowerment against Poverty Program (LEAP) by over ten-fold in the next three years. These mechanisms could scale up programs against post flood events or drought events in the north. Donors could support the integration of market-mediated insurance solutions within the social welfare programs. Using local insurance capacity to bear some of the risk and develop the insurance products could also be investigated. Such mechanisms delivered through social welfare programs will create a critical mass of policyholders, which could spur the development of commercial agriculture insurance. 2015-08-17T16:02:21Z 2015-08-17T16:02:21Z 2013-09-22 Report http://documents.worldbank.org/curated/en/2015/07/24773651/initial-market-assessment-country-scoping-note-ghana http://hdl.handle.net/10986/22430 English en_US Political Champions Group country note; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work Economic & Sector Work :: Other Financial Sector Study Africa Ghana |