Good Practices for Enhanced Risk Awareness and Education on Insurance Issues
The Good Practices provide flexible, solid, but non-binding international guidance to improve public awareness and capability as regards the increasing risks to which the public is exposed and available risk coverage tools, and to strengthen education about insurance products, insurance market players and insurance issues. In doing so, the Good Practices highlight the roles which should be played by various stakeholders, particularly governments, the main insurance market players - and their national associations - and other social partners. The Good Practices also propose tailored tools and methods to achieve these objectives.
International Endorsement : Approved as an OECD Council Recommendation (34 member countries) and recognised by EU, IMF and World Bank. Also reviewed by the International Network on Financial Education: 93 countries. The Good Practices are expected to be further reviewed by the INFE and OECD in 2011-2012.
International Application : The Good Practices apply to OECD and non-OECD countries and are used in the context of the International Network on Financial Education: 93 countries (including all enhanced engaged countries).
The Good Practices have been used in the evaluation of countries seeking OECD membership. Informal assessments are being conducted at the occasion of regional and international seminars on financial education organised in OECD and non-OECD countries. These evaluations are being drawn upon to develop a methodology for the assessment of the implementation of the Good Practices.