Hazard Perception and Demand for Insurance among Selected Motorcyclists in Lagos, Nigeria
<div>This study examines hazard perception effects on the demand for insurance with</div><div>special focus on motorcycle riders in Lagos state. For this purpose, the researchers</div><div>have been able to examine selected hazard perception determinants and their</d...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Universitas Indonesia
2017-05-01
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| Series: | The South East Asian Journal of Management |
| Subjects: | |
| Online Access: | http://journal.ui.ac.id/index.php/tseajm/article/view/7731 |
| Summary: | <div>This study examines hazard perception effects on the demand for insurance with</div><div>special focus on motorcycle riders in Lagos state. For this purpose, the researchers</div><div>have been able to examine selected hazard perception determinants and their</div><div>effects on the insuring attitude and desire of motorcycle riders. An explanatory</div><div>research design was employed and a convenience sampling type of the nonprobability</div><div><br /></div><div>sampling technique was adopted. Data was gathered by interviews</div><div>conducted at motorcycle parks along the Lagos-Badagry expressway. The sample</div><div>consisted of 126 respondents made up of commercial motorcycle riders within the</div><div>sample areas. Data collected was analysed using multiple regression technique.</div><div>The study was able to establish some level of contributory linkage between hazard</div><div>perception and demand for motorcycle insurance. The findings show that while</div><div>dread and trust both appeared to have significant effect, publicity and controllability</div><div>both have positive contributory effect; furthermore, choice expressed an inverse</div><div>relationship with demand for insurance among the motorcycle riders. The study</div><div>therefore recommends pre-loss and post-loss measures among the motorcycle</div><div>riders so that unforeseen motorcycle risks can be managed. Also, insurance</div><div>companies should endeavour to invest more on enlightening the motorcycle </div><div>riders in order to lessen their dread of loss outcome, and thus, design policy that </div><div>can instil trust in motorcycle riders in insurance as a loss control measure.</div> |
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| ISSN: | 1978-1989 2355-6641 |