Awareness And Acceptance Of Household (Building) Insurance Among Private Residence Of Flood Prone Areas In Lagos State, Nigeria
Keywords:
Awarenes, Acceptance, Household, Flooding, Nigeria, InsuranceAbstract
This study was aimed at assessing the awareness and acceptance of household (building) insurance among private residence of flood prone areas in Lagos state, Nigeria. This study employed a descriptive research approach. Purposive sampling techniques was adopted for this study to select Ajeromi/Ifelodun, Amuwo-Odofin, Apapa, Eti-Osa, and Kosofe were selected as the choice population. A research questionnaire was adopted for the purpose of the study. A total of 400 copies of questionnaire were distributed to the selected areas, where 80 copies of the questionnaire were distributed to each of the five (5) LGA. Out of the 400 copies of the questionnaire administered for data collection, 364 copies were found useful for analytical results, providing 91%response rate. The Kolmogorov-Smirnov test and Kendall’s rank correlation coefficient techniques were employed in data processing. Analysis for hypothesis one shows that the Dcalc value (- 0.51295) <Dtab value (0.071), meaning that the null hypothesis household building insurance has not gained high level of popularity among residents of flood prone areas in Lagos state, Nigeria is accepted at α = 0.05, while the analysis for hypothesis two shows that the Dcalc value (- 0.4194) <Dtab value (0.071), which means that the null hypothesis which state that residents of flood prone areas in Lagos state, Nigeria are not willing to accept household building insurance policy, Nigeria is accepted at α = 0.05 and lastly, the analysis detected that there is a strong, positive relationship between awareness of household building insurance and acceptance of household building insurance (r = 0.671, N=364, p < .000)
References
Adaku J.Eu (2020). The impact of flooding on Nigeria’s sustainable development goals (SDGs), Ecosystem Health and Sustainability, 6:1, 1791735, DOI:10.1080/20964129.2020.1791735
Ajemunigbohun, S.S, Isimoya, O.A and Ipigans, P.M (2019). Insurance claims fraud in household insurance: empirical evidence from the Nigerian insurance industry, Economics and Organization Vol. 16(1), pp. 103 – 116 https://doi.org/10.22190/FUEO1901103A
Ajibade, I., McBean, G., and Bezner-Kerr, R. (2013). Urban flooding in Lagos, Nigeria: patterns of vulnerability and resilience among women, Global Environ. Change, 23, 1714–1725.
Alaghmand, S, Abdullah, R, Abustan, I &Vosoogh, B (2010). GIS-based river flood hazard mapping in urban area (A case study in KayuAra River Basin, Malaysia), International Journal of Engineering and Technology, vol. 2, No. 6, 488–500.
Asika, N. (2008). Research methodology in the behavioral sciences. Lagos: Longman Nigeria
Plc
Davis S.A & Skaggs L.L (1992). Catalog of residential depth-damage functions used by the army corps of engineers in flood damage estimation (No. IWR-92-R-3). Army Engineer Institute for Water Resources Alexandria.
Douben, N &Ratnayake, RMW, (2005). Characteristic data on river floods and flooding: facts and figures. In: J, van Alphen, E, van Beek& M, Taal (ed.): Floods, from Defense to Management. Taylor & Francis Group: London, pp 11-27
Douben, N (2006a). Characteristics of river floods and flooding: a global overview 1985 – 2003, Irrigation and Drainage, vol. 55, No. 1, S9 –S21
Douben, N (2006b). Flood management, UNESCO-IHE, Lecture Notes.
Eleuterio, J (2012). Flood risk analysis: Impact of uncertainty in hazard modelling and vulnerability assessment on damage estimations, PhD thesis, University of Strasbour, France, 1 – 243
Etuonovbe, A. K (2011). The devastating effect of flooding in Nigeria, in: FIG Working Week, available at: http://www.fig.net/pub/fig2011/papers/ts06j/ts06j_etuonovbe_5002.pdf
FEMA (2002). National flood insurance program description. Retrieved from https://www.fema.gov/media-library/assets/documents/1150
FME (Federal Ministry of Environment). Bulletin on Ecological Disasters, FME, Abuja, Nigeria,
25, 2012.
Geological Society of London –GSL (2001).The Earth in Our Hands; Flooding http://www.geolsoc.org.uk/pdfs/floods_aw.pdf
GopalakrishnaG (nd) Essentials and Legalities of an Insurance Contract, available at https://www.insuranceinstituteofindia.com/.../Journal08_%20pg06-14_ess.pdf
Hewitt, K. (1997).Regions of risk, A geographical introduction to disasters, Longman, Ltd: Essex, U.K https://www.classgist.com/sample-size-calculator.aspx
Israel, A.O (2017). Nature, the built environment and perennial flooding in Lagos, Nigeria: The 2012, Urban Climate, http://dx.doi.org/10.1016/j.uclim.2017.06.009
Kothari, C., Garg, G. (2016). Research methodology: Methods and techniques. 3rd Ed. New Delhi: New Age International (P) Limited, 449
Krzysztof, W (2018). Hazards for buildings and structures caused by flood conditions. E3S Web
of Conferences 45, 00101, INFRAEKO 2018.1 – 8 https://doi.org/10.1051/e3sconf/20184500101
Morteza T. M (2020). A review of flood damage analysis for a building structure and contents, Natural Hazards, Springer.
Munich RE, NatCatSERVICE (2019). Loss events worldwide 1980–2018. Retrieved from https://www.munichre.com/en/reinsurance/business/non-life/natcatservice/index.html
MunichRe (2007).Flooding and insurance, Report on the 128th year of business, I of January to 31 December 2007, Munich Reinsurance Company.
NAIC (2022). Household Insurance, Center For Insurance Policy And Research. https://content.naic.org/cipr-topics/household-insurance
NSSL (National Severe Storms Laboratory—part of NOAA) (2019). Severe weather 101, flood basics. Retrieved from https://www.nssl.noaa.gov/education/svrwx101/floods/
Odunuga, S (2008). Urban Land Use Change and the Flooding in Ashimowu Watershed, Lagos,
20 Nigeria, PhD thesis, University of Lagos, Nigeria.
Olajuyigbe, A. E., Rotowa, O. O., and Durojaye, E (2012). An assessment of flood hazard in
Nigeria: the case of mile 12, Lagos, Mediterranean Journal of Social Sciences, 3, 367–375.
Olalekan, A & Jessica, L (2018). A media framing analysis of urban flooding in Nigeria: current
narratives and implications for policy, Reg Environ Change, 18:1145–1159. https://doi.org/10.1007/s10113-017-1253-y
Oyebande, L (1974). Drainage protection to urban lands: an environmental challenge, Nigerian
Geographical Association Conference, 16– 21 December 1974, University of Nigeria, Nsukka, Enugu, 1–7.
Richard Hughes (1982). The effects of flooding upon buildings in developing countries, Disasters, Vol. 6, No. 3, 183-194.
Samira, R. (2016). Flood Vulnerability Assessment by Applying a Fuzzy Logic Method: A Case
Study from Melbourne, Master of Engineering Thesis, Victoria University, Melbourne, Australia, 1 – 96.
Schlef, Katherine, "Flood Risk Assessment, Management and Perceptions in a Changing World"
(2018). Doctoral Dissertations. 1273. https://scholarworks.umass.edu/dissertations_2/1273https://doi.org/10.7275/11932410.0
Sekaran, U., Bougie, R. (2016). Research methods for business: A skill-building approach. 7th Ed. USA: John Wiley & Sons Limited.
Valerie, J (2014). Household Insurance products. Chartered insurance insitute of Nigeria, study
course CF6.
Vimalkumar A. V (2005). Flood Impact Analysis using GIS A case study for Lake Roxen and
Lake Glan-Sweden, Master Thesis, Linköpingsuniversitet, Sweden. 1 – 108
Wilson, J. (2014). Essential of business research: A guide to doing your research project .2nd
Ed. London: Sage Publication Limited.