The purpose of this research work was to identify the impact of insurance services in the Nigerian economy. 15 SIGNIFICANCE OF THE STUDY OPERATION.
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This paper therefore examines the economic benefits of fire insurance on commodity major markets in NigeriaFew large markets within Ibadan Oyo State Capital were selected for this study.
Importance and impact of fire insurance in nigeria economy. THE IMPACT OF INSURANCE ON ECONOMIC GROWTH IN NIGERIA Mathew Olasehinde FASHAGBA Senior Lecturer Department of Business Administration Ibrahim Badamasi Babangida University Lapai Niger State. It is very obvious that the majority of the public who are ignorant of the contributions made by the insurance industry have more faith in the banking or other financial industries. Market capitalization of insurance companies has no significant impact on the growth of Nigeria economy.
Insurance not only helps in reducing the burden on the public but reducing claims fluctuation. The study covers the period 1980 to 2015. Insurance industry plays a vital role in Nigeria economy by momentum to the nation economic of the country.
The scope of the study has been limited to the insurance companies in Nigeria. This study is meant to highlight the importance and roles of insurance industry in Nigeria economy. Insurance is a cover from financial loss.
Insurance industry is a very vital aspect of Nigeria economy and its importance and roles can not be overemphasized in this project work the researcher want to identify the history of insurance industry in the Nigerian economy and also the actual roles and the importance of insurance industry to the common man and the society at large such. The paper describes the various products available under the agricultural insurance while a section was devoted to analyzing the economic impact of agriculture Insurance on the economy then conclusion and recommendations. This study was intended to evaluate the role of insurance companies in the development of Nigerian economy.
Similarly NICON insurance company was the focus as a case studyThe most important among the research findings include the lack of awareness oninsurance issues by the teaming Nigerian populations minimal coverage of theindustrys activities in such important sector as health and agriculture lack ofadequate government as well as private. The incessant cases of fatal fires in homes and public buildings in major cities in Nigeria resulting in loss of lives and properties is a call for concern as most cases reported in recent past have further shrank the nations economy as most of the victims do not have insurance cover. Economic growth Insurance performance Regression analysis.
It was discovered that most of the shop-occupiers at those markets were ignorant of the meaning and importance of fire Insurance. The reason for this base year is due largely to the liberalization of the Nigerian economy as a result of the introduction of the structural adjustment programme SAP in. Insurance industry is a very vital aspect of Nigeria economy and its importance and roles can not be overemphasized in this project work the researcher want to identify the history of insurance industry in the Nigerian economy and also the actual roles and the importance of insurance industry to the common man and the.
The study sought out to examine the impact of non-life insurance penetration on the economic growth of. Insurance not only helps in reducing the burden on the public but reducing claims fluctuation. Insurance industry plays a vital role in Nigeria economy by momentum to the nation economic of the country.
All the various insurance forms such as firewindstorm explosionburglary or theft etc fall under the four categories earlier mentionedInsurance has played a role in the Nigerian economy of returning the insured to the status quo before the occurrence of the insured event. This is because most of Nigerians looks at insurance industry as a weak and poor industry with little or no impact in the Nigerian economy. THE IMPACT OF INSURANCE SERVICES IN THE NIGERIAN ECONOMY.
15 SCOPE OF THE STUDY. This study is meant to highlight the importance and roles of insurance industry in Nigeria economy. To know the roles of insurance companies in the development of Nigerian economy to help the nation at large in knowing the roles all insurance companies play in the country to find out services of insurance companies to.
It gives an introduction and a review of the agricultural sector that led to the agricultural insurance decree in 1993. This study was guided by the following objectives. The importance of insurance to economic development of a nation cannot be overemphasized the contribution in respect of.
15 SIGNIFICANCE OF THE STUDY OPERATION. The research work is centered on the impact of insurance companies on economic development in Nigeria and the importance of insurance to individuals. ABSTRACT Insurance is one of the major non banking financial institutions that mobilize fund for investment for the wellbeing of an economy.
In fact insurance companies contribute more to Nigeria economy by capital accumulation than by reparation of loses through compensatory measure. Full LengthResearch Article This study explored the effect of insurance industry performance on economic growth in Nigeria. The insurance industry from all indication plays a vital role in Nigeria economic development as well as in the problem of risk management in Nigeria.
The importance includes the function benefit of insurance to the society as whole.
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