The second volume of 'Microinsurance Compendium, Protecting the Poor' highlights that the number of microinsured people has reached almost 500 million. The report emphasises the role of microinsurance in poverty alleviation when combined with social protection, risk prevention, mitigation, and vulnerability reduction. The report features 26 chapters addressing innovations in microinsurance, covering emerging issues such as: current trends in microinsurance, health insurance, life insurance and general insurance, and low-income market. Other parts examine: insurers and microinsurance; delivery channels and intermediaries; and the infrastructure and environment for microinsurance. The Compendium underscores increasing climate change risk, stressing its impact on the poor, due in part to weak infrastructure. It provides an overview of emerging climate change risks, the role of microinsurance in addressing weather-related risk and the operational challenges.