AN EVALUATION OF THE CONTRIBUTIONS OF INSURANCE COMPANIES IN THE ECONOMIC DEVELOPMENT OF NIGERIA
AN EVALUATION OF THE CONTRIBUTIONS OF INSURANCE COMPANIES IN THE ECONOMIC DEVELOPMENT OF NIGERIA
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Date
2014-03-13
Authors
ABEDE, Oiza Husseina
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Abstract
The role of the insurer in any polity is that of bearer of risks. In other words, the
populace can feel insulated from risks when they take advantage of insurance to
rely on when the unexpected strikes. It is for this reason that the federal
government mooted the idea of an insurance company in the late 60s which is
today known as NICON Insurance Plc. Hence this project sets out to investigate
the contribution of insurance companies in the economic development of Nigeria
with keen interest in NICON Insurance Corporation Plc. In order to facilitate the
research work and to get reliable information, the data was collected through
primary and secondary sources. It is important to note that insurance has, over
the years, developed both positive and negative facets – positive in its insulative
function, negative in its refusal to perform this function. While acknowledging
delay or outright refusal to settle genuine claims by some insurance companies,
the populace in placing their insurance trust, must be made aware of the
standards that are required of insurance companies to enable the insuring public
separate the wheat from the chaff. The role of NICON in shaping the insurance
industry in the country and in the general development of the financial industry
is quite impressive. Besides, there are still more recommendations in the writeup
to help them maintain their status quo in the insurance industry
Description
BEING A THESIS SUBMITTED TO THE POSTGRADUATE SCHOOL IN
PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD
OF THE DEGREE OF MASTER IN BUSINESS ADMINISTRATION
(MBA).
DEPARTMENT OF BUSINESS ADMINISTRATION
FACULTY OF ADMINISTRATION
AHMADU BELLO UNIVERSITY
ZARIA.
Keywords
EVALUATION,, CONTRIBUTIONS,, INSURANCE,, COMPANIES,, ECONOMIC,, DEVELOPMENT,, NIGERIA