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Impact Of Insurance To The Nigeria Economy In A Recessed Economy

Type Project Topics (docx)
Faculty Administration
Course Actuarial Science and Insurance
Price ₦3,500
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Key Features:
- No of Pages:
- No of Chapters:
- Charts
- Tables
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Abstract:
Throughout the Nigeria, the latest talk when you listen to C.B.N on television, listen to radio, read newspaper, magazines and even when you attend seminar, the latest issue commonly discussed is based on the present Nigeria economic recession.
It is for this reason, I have decide to embarked on this research project topic tag "the impact of insurance to the Nigeria economic on recession". This project work consist of each of the chapter are analyze as follows.
The first chapter will talk on the essential role of insurance in the national economy and survival of a virile economy industry in Nigeria. Most especially now that everyone is face with financial crises and to the society at large.
The second chapter will examine critically the literature review, historical background and structure of the company. The third chapter talks about the research methodology, method of data collected for this study, sources and analysis.
Chapter four gives details of how the data is being analyzed and presented.
The last chapter includes the conclusion, summary and recommendation, if the recommendation is accepted then the "impact of insurance to the Nigeria economic on recession will be seemed clearly and there will be improvement in the economy of the nation.
Table of Content:
Title page i
Certification ii
Dedication iii
Acknowledgement iv
Abstract v
Table of content v-vii
CHAPTER ONE
1.0 Introduction 1
1.1 Background of the study 1-2
1.2 Statement of the problem 2
1.3 Research Question 2-3
1.4 Objective of the Study 3
1.5 Hypothesis 3-4
1.6 Scope of the study 4
1.7 Limitation of the Study 4
1.8 Justification of the Study 5
1.9 Operational Definition 5-7
CHAPTER TWO
2.0 Literature Review 8
2. 1 Conceptual review of Nigeria economic on recession 8
2.2 Concept of Insurance 8-10
2.3 Context of Recession 10-11
2.4 Empirical Review 12
2.4.1 The role of insurance to the Nigeria economic on recession and its social significance 12
2.4.2 Insurance as an instrument of Nigeria economic stability 13-15
CHAPTER THREE
3.0 Research Methodology 16
3.1 Population Size 16
3.2 Research Design 16
3.3 Sample and Sampling Technique 16-17
3.4 Research Question/Hypothesis 17
3.5 Instrumentation of Data Collection 17-18
3.6 Method of Data Collection 19
3.7 Method of Data Analysis 19
3.8 Variables 19
CHAPTER FOUR
4.1 Presentation and Analysis of data 20-27
CHAPTER FIVE
5.0 Summary, Conclusion and Recommendation 28
5.1 Summary 28
5.2 Recommendation 29-30
5.3 Conclusions 30-31
References 31-32
Questionnaire 32-33
Introduction:
Insurance is traditionally recognized mechanism by which a risk is transferred by a person, business or organization etc.
To an insurance company which reimburses the insured upon the payment of certain amount called premium paid yearly, half yearly, quarterly. It can also be defined as a pooling of risk a wise person makes in case of an unforeseen occurrence.
Moreover, apart from being a risk bearer, insurance of nowadays has gone beyond it. They are known for the significant role they play in the economic development of a nation; such insurance is referred to as the bedrock of a virile economy.
This is for Nigeria investor to operate under a healthy economic environment, it is the reason for the Nigeria the impact of insurance in the Nigeria economic recession, no modern economy can survive without active support of a viable insurance industry.
The starting point of insurance came into existence in Nigeria and for what purpose was it established. The European traders who traded on the west coast of Africa introduce to Nigeria what is known as modern insurance. (Royal exchange Assurance) this insurance business was introduced into Nigeria at the beginning of the twentieth century for cover for their business transaction, which were covered against perils of the sea.
Meanwhile the first insurance company to corporation of Nigeria (NICON) which is used to lack ups the national economy. This corporation made government plan towards full protection of their asset realized which in return brought about increment in the foreign exchange earning of Nigeria as a nation.
STATEMENT OF THE PROBLEM
This research works will focus on the specific problem area which is relevant to insurance as the bed-rock of the nation economy.
The negative consequence of economic recession in Nigeria need not be overemphasized. Poverty and hunger is at the highest ebb with people especially the Nigerian workers who have been on the 18000 naira minimum wage being the worst hit as things have skyrocketed in the market, this has by extension affected the productivity of the workers which has further diminished the production capacity of the nation.
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