Insurance and Poverty Reduction Among Market Women in Onitsha North, Anambra State

This study examines the potential relationship between insurance product adoption and poverty reduction outcomes among market women in Onitsha North Local Government Area, Anambra State, South East Nigeria. Market women represent a critical segment of Nigeria's informal economy, contributing significantly to household income and community commerce, yet they operate with minimal financial protection against health shocks, property loss, and income interruption. The study adopts a descriptive correlational design with 300 market women selected through systematic random sampling from major markets in the study area. Structured questionnaires assess current insurance ownership across health, fire, and life categories, exposure to financial shocks in the preceding 24 months, and recovery capacity following loss events. Poverty proxy indicators including asset ownership, expenditure patterns, and income stability are recorded alongside insurance status. Pearson correlation and regression analysis assess the association between insurance ownership and poverty indicators. Preliminary findings are expected to suggest that insured market women exhibit faster recovery from income shocks and higher asset retention, implying a protective role for insurance against poverty deepening. The study recommends microinsurance product design tailored to market women's revenue cycles and risk exposure profiles. Keywords: Insurance, Poverty Reduction, Market Women, Onitsha, Microinsurance.