Patronage of Non-Life Insurance Policies: The Case of SMEs in Kumasi

SMEs (small medium-scale enterprises) occupy a central part of the economy in most developing countries all around the world. SMEs are noted as the bedrock of the emerging private sector in developing countries and government assistance is paramount to sustaining and growth for the sector's contribution to the country's economy. Despite the effort to enhance the performance of this sector very little or no attention is given to become business recovery consciousness when uncertain events occur in the line of business. Losses caused by events such as occupational hazards, theft and burglary, traffic and motor accidents, fire outbreaks and accidental damage to property and harm caused to lives as well as unknown events have slowed down the activities of the sector and in some instance have discontinued some businesses in the sector. The need to acquire insurance cover is cardinal to both the public, private sector, and stakeholders, most importantly for the success and longevity ofSMEs in the country. The basic motive of the research is to establish the predictors that affect SMEs in the Kumasi metropolis to patronize non-life insurance policies as a risk management tool.