The Effectiveness of Microinsurance in Reducing Vulnerability Among Artisanal Fishermen in Delta State

This study evaluates the effectiveness of microinsurance products in reducing livelihood vulnerability among artisanal fishermen in Delta State, South South Nigeria. Artisanal fishermen in the Niger Delta region are exposed to compounded risk exposures including equipment loss, injury, boat damage from oil spill contamination, and income volatility from fish stock depletion. Microinsurance products tailored to this occupational group could theoretically reduce vulnerability by enabling faster recovery from loss events and encouraging investment in productive assets. This research employs a quasi-experimental design comparing vulnerability outcomes between enrolled and non-enrolled artisanal fishermen using a matched comparison group methodology. Primary data are collected from 280 fishermen in three coastal local government areas in Delta State. Vulnerability is measured using a composite index incorporating income volatility, asset loss frequency, healthcare utilization deficits, and food security status. Logistic regression and difference-in-differences estimation assess the vulnerability reduction effect attributable to microinsurance enrollment, controlling for baseline characteristics. Preliminary findings are expected to indicate significant reductions in asset loss permanence and healthcare expenditure shocks among enrolled fishermen. The study recommends scaling up microinsurance distribution through artisanal fishing cooperative associations and establishing a state-level fishing industry risk pool with NAICOM regulatory support. Keywords: Microinsurance, Livelihood Vulnerability, Artisanal Fishermen, Delta State, Quasi-Experimental Design.