Insurance key priority for financial inclusion - Balls

The report – Financial inclusion: the way forward – says progress has been made in a number of areas in the financial inclusion strategy, such as reducing the number of adults without access to a bank account from 2.8 million in 2002-03 to 2 million in 2005-06. But it says key challenges remain if the goal of helping everyone to plan for the future and cope with financial pressures is to be meaningfully realised. A key challenge is understanding the role of insurance as a product for financially excluded customers, and the government says it will work with the Association of British Ins...