GENERAL OVERVIEW OF THE STUDY
The uncertainty which doubt the future is a significant that normally bring in the element of risk in any business arrangement. The existence of risk in any concern simply means that certain loss must arise if the risky event happens. A contract of insurance broadly happens. A contract of insurance, broadly speaking is a contract in which one party called the insurer agrees to pay a given sum of money upon the happening of a particular event insured against to the other party called the insured or assured for a consideration called premium.
In other words, insurance is a risk transfer mechanism by which an individual or corporate body shifts some or all the uncertainty encountered in daily activities into the shoulder of insurers in return for the payment of an agreed amount called premium which is usually very small compared to the potential loss. In the effect, what the insuring public and prospective buyers to be continuity in life without set back or normally occasioned by insurable risk or peril.
Insurance companies provide the service of financial sustenance to her participants in the economy. They do this by ensuring the financial rival of other business in the event of the unfortunate occurrence of insurable risk. Without such financial aid as offered by the insurance industry, many a business would have been out of existence. The economic development of any nation is closely related to the behaviour of individuals doing in the country as regard how much to save and how to consume with their earned income.
1.2 STATEMTN OF PROBLEM
The insurance industry is very relevant to the growth and development of very economy, it does not exist like every other insurance institutions without facing some constraints. Some of these problems include.
• Lack of awareness of the activities of the insurance industry.
• The reluctance or insurance companies to pay just claims.
• Unqualified salesman, agents and other insurance canvassers.
• The existence of fake, quack and mushroom insurance companies.
There are insurance companies in the country that are well require by the necessary organizations but still lack the desired technical, financial and management. To mention but a few.
ABSTRACT
THE IMPACT OF COST MANAGEMENT ON BUSINESS SUSTAINABILITY
This research explores the impact of cost management on busin...
Sieve equipment is a type of machine used to separate solid particles. Naturally, its manner of separation is comparable to slow sand filtration; n...
ABSTRACT
This study aims to develop and design an Online Hotel reservation and management system for Le-Mer...
ABSTRACT
Distance measurement plays a vital role in engineering, science and business....
Abstract
Marriage break-up can disrupt a person’s life routines, feelings of self-worth and sense of security. Divorce can affect p...
Abstract:
This research explores the role of forensic accounting in financial statement analysis in Abu...
ABSTRACT
THE ROLE OF COST MANAGEMENT IN PROJECT MANAGEMENT
This research explores the role of cost management in project manage...
BACKGROUND OF THE STUDY
A pension is a fund into which a sum of money is added during an empl...
CHAPTER ONE
INTRODUCTION
1.1
Abstract The study appraises the role of the military in the socio-economic development of Nigeria. The study observes...
NIGERIA ECONOMIC POLICY UNDER MILITARY 1983-1993