The Microinsurance Catastrophe Risk Organization (MiCRO), a micro(re)insurance facility that helps Haiti’s micro-entrepreneurs protect themselves against the economic aftermath of severe natural catastrophes, has been awarded “Company Launch of the Year” at The Review’s annual Worldwide Reinsurance Awards.
MiCRO was formed in March 2011 with the backing of a variety of governmental, insurance and international development agencies including Fonkoze, Haiti’s leading microfinance institution; Caribbean Risk Managers Limited (CaribRM), the risk analytics arm of CGM Gallagher Group and Swiss Re. MiCRO seeks to establish a scalable model for microinsurance geared toward the organized poor who have taken steps to increase their economic standing and stability through the creation of small businesses.
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