Mitigating the effects of fire outbreaks on the socio-economic lives of women in the Kumasi Metropolis of Ghana: the role of microinsurance institutions.
Journal Title: IOSR Journal of Humanities and Social Science - Year 2018, Vol 23, Issue 2
Abstract
The studyexamined the extent to which market women demand microinsurance and also assesses the extent to which microinsurance institutions are mitigating the effects of fire outbreaks on the socio-economic lives of women in the Kumasi Metropolis of Ghana. The study used both qualitative and quantitative analysis on the data gathered. The results showed 99% of the Market women did not take up microinsurance while 1% took microinsurance. The study further revealed that difficulty in accessing claims has been one of the major reason market women do not access microinsurance. Again, contrary to popular opinion about the informal section savings, this study showed, the informal sector particularly market women save to revamp their businesses in case of market fires. The study recommended that, microinsurance institutions need to use public education and moral suasion to boost patronage. At the same time, government must introduce legislation to encourage the informal sector to buy microinsurance.
Authors and Affiliations
Doris Ohene Ntim
Keywords
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- EP ID EP417256
- DOI 10.9790/0837-2302104852.
- Views 110
- Downloads 0
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