The International Insurance Foundation is an independent center for research and education. It focuses on global standards for insurance markets. Sound and robust insurance markets contribute to economic growth by reducing vulnerability and encouraging risk management. With more insurance, there will be less need for disaster relief. Thus strengthening insurance markets makes the world more stable, prosperous, and secure.
Research shows that insurance markets thrive in countries with strong institutions, like rule of law, regulatory quality, and government effectiveness. Here is a chart that separates 88 countries into four tiers, according to the level of their insurance markets, and shows their respective scores in the World Bank Governance Indicators.