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Living and Investing in Mongolia

Got this email titled "Investing and Living in Mongolia" from a reader. Good questions here -

Hi Sebastian,

I enjoy your blog. I saw that you recently moved to Mongolia. I am curious what made you move to Mongolia (i.e. curiosity to explore vs. a new job)? What is it like there for foreigners? Is it a suitable environment for investing capital? Do you feel safe?

Mongolia is an extremely promising country from the outside, yet nothing beats the perspective of someone who is there on the inside (even though you have not been there a very long time).

All the best,

Dyman & Associates Insurance Group of Companies: Why home insurance finds no takers?

On Dyman Associates Insurance Group

Estimates suggest the total share of home insurance in the general insurance industry is less than 1%

Home insurance, which covers the house and its contents from fire, theft, burglary and other security concerns, is still a segment that has not seen enough takers. The main reason, according to insurance industry executives, is inadequate tax incentives as well as a lack of awareness.

Sanjay Datta, head of underwriting and claims at ICICI Lombard General Insurance, says people’s perception of risk is low and hence many do not want to take home insurance. He adds that the distribution network of home insurance products is not widespread, resulting in low penetration.

Home insurers also provide cover for household appliances including television, washing machine, refrigerator and jewelry or valuables that are kept in the house. In some cases, even pets in the house, at the time of an accident or robbery and are injured in the incident gets a cover. Terrorism and catastrophic incidents are also covered under some products.

Industry estimates suggest the total share of home insurance in the general insurance industry is less than one per cent. The total premiums collected in the segment annually are also estimated to be less than Rs 30 crore.

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