9. Micro-Insurance: Social Protection is a Human Right

The introduction of social protection has often been considered as one of the most significant social achievements of the 20th Century. It is perceived to be one of the systematic tools to eradicate poverty and enable the vulnerable sections of the society to live a decent life. It is also said that it can play a far-reaching role in enhancing the quality of life of individuals and societies by developing and unleashing human potential, facilitating structural change, increasing stability, advancing social justice and cohesion and promoting economic dynamism.

Social protection is a human right. The article 22 of the Universal Declaration of Human Rights states, “Everyone, as a member of society, has the right to social security.” The Article 9 of the 1966 International Covenant on Economic, Social and Cultural Rights recognizes “the right of everyone to social security, including social insurance.”

The World Summit for Social Development held in Copenhagen in 1995 had the governments committing themselves to “develop and implement policies to ensure that all people have adequate economic and social protection during unemployment, ill-health, maternity, child-rearing, widowhood, disability and old age”
The 24th special session of the United Nations General Assembly, convened in Geneva in June 2000 to provide a five-year review of the Summit, underscored the importance of establishing and improving social protection systems and sharing best practices in this field.
The issue of social protection also received serious consideration at the Financing for Development Summit, held in Monterrey, Mexico, in March 2002.
Moreover, the Summit on Sustainable Development in Johannesburg (2002) stressed the need to “strengthen the social dimension of sustainable development by emphasizing follow-up to the outcomes to the World Summit for Social Development and its five-year review and by support to social protection systems” (Garcia and Gruat).