Fire Insurance Uptake Among Small and Medium Enterprises in Onitsha, Anambra State

This study investigates the uptake of fire insurance among small and medium enterprises (SMEs) operating in Onitsha, Anambra State, South East Nigeria. Onitsha hosts one of the largest commercial markets in West Africa, where thousands of traders and businesses are exposed to recurring fire incidents that result in substantial economic losses. Despite the commercial density of this environment and the documented frequency of fire disasters in the region, formal fire insurance coverage among Onitsha-based SMEs remains negligible. This research employs a descriptive survey approach, with primary data gathered from 350 registered business owners across Onitsha Main Market, Bridgehead Market, and Upper Iweka through structured questionnaires and personal interviews. The study examines knowledge gaps, affordability constraints, distrust in insurers, and cultural attitudes toward risk transfer as barriers to fire insurance adoption. Secondary data from the Anambra State Fire Service and the Nigerian Insurers Association supplement the primary dataset. Analysis employs frequency tables, percentages, and logistic regression to identify significant predictors of fire insurance uptake. Findings are expected to reveal that low awareness and negative past experiences with claims are leading deterrents. The research recommends community-based insurance education campaigns, simplified policy documentation, and stronger engagement between insurers and market associations. Keywords: Fire Insurance, SMEs, Onitsha, Risk Transfer, Market Insurance.