The Financial Regulatory Commission (FRC) of Mongolia and the United Nations Development Programme (UNDP) will host an international fo­rum on “Inclusive Insurance-2014” on April 16-17 in Ulaanbaatar.

This jointly organized forum will be a first for the financial sector in Mongolia. International delegates will come from some ten countries, including South Korea, China, Japan, Hong Kong, Tai­wan, India, Bangladesh and Philippines. Moreover, it will be participated by Mr Ch.Ulaan, the Minister of Finance; Mr D.Bayarsaikhan, a chairman of the FRC; and by Ms Sezin Sinanoglu, the UNDP Resident Representative to Mongolia.

An important objective of this forum is to encourage sharing the knowledge and experiences on inclusive insurance from international and local speakers. The forum will bring together interna­tional insurance experts, international insurance regulators, technical insur­ance experts and development agen­cies, Mongolian political and business leaders, Mongolian insurance compa­nies and financial sector stakeholders. The Insurance Association of Mongolia will organize an expo of insurance ser­vices in Mongolia during the Forum.

2014 is an important milestone year for Insurance in Mongolia. 2014 is the 80th year of Insurance in Mongolia and the 20th year of operations for FRC. The 5 year UNDP supported project funded by Luxembourg Government “Capac­ity Development for Micro-Insurance Market in Mongolia” will be completed in May of this year. In April as a result of this project new and easy to access insurance products for gers and small houses at an affordable premium will be available in the market. A number of in­surance companies have been actively designing these new products with as­sistance from the UNDP project team. The product will be available to a signifi­cant proportion of the Mongolian popu­lation for the first time.

The forum organizers see the forum as an ideal platform to launch the next stage of development of the insurance industry in Mongolia.