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Insurance uptake among small and medium-sized tourism and hospitality enterprises in a resource-scarce environment

Dayour, Frederick, Adongo, Charles A. and Kimbu, Albert N. (2020) Insurance uptake among small and medium-sized tourism and hospitality enterprises in a resource-scarce environment Tourism Management Perspectives, 34, 100674.

Insurance Uptake among SMTHEs - Accepted Draft.pdf - Accepted version Manuscript

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Small and medium-sized tourism and hospitality enterprises (SMTHEs) are often susceptible to various hazards, which result in risk concerns. Insurance is recognised as one of the risk management strategies, but evidence indicates that insurance uptake among SMTHEs has been low. Yet, researchers have hardly researched into the factors that influence insurance uptake among SMTHEs. Two-hundred and fifty (250) respondents were selected using a multi-stage sampling technique. Confirmatory factor analysis, multivariate logit and probit regression techniques were used to determine factors underlying SMTHEs' insurance uptake. Risk concerns, the firm's characteristics, the perceived benefits of insurance and other informal risk coping mechanisms, as well as insurance service provision concerns were identified as determinants of insurance uptake. This is one of the first papers to offer a holistic understanding of the factors influencing SMTHEs' insurance subscription in a resource-scarce destination of Sub-Saharan Africa. The practical and theoretical implications of the paper are discussed.

Item Type: Article
Divisions : Faculty of Arts and Social Sciences > School of Hospitality and Tourism Management
Authors :
Dayour, Frederick
Adongo, Charles A.
Kimbu, Albert
Date : 8 April 2020
DOI : 10.1016/j.tmp.2020.100674
Copyright Disclaimer : © 2019. This manuscript version is made available under the CC-BY-NC-ND 4.0 license
Uncontrolled Keywords : SMEs; Insurance; SMTHEs; Hospitality and tourism; Driver; Resource-scarce environments
Depositing User : Clive Harris
Date Deposited : 07 May 2020 13:34
Last Modified : 09 Apr 2021 02:08

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