ABSTRACT A study of the detection and checks of claims fraud operation starts from the propose insured who offers a business contract to the insurer by completing the proposal form. Questa with appropriate answers. The insurer on the often hard inspect the paid of the insured before the insured could course for the seltment of claims and the policy holder should come for the claim, immediately the loss has been sustained. Fround, the insured will notify and clear his mind from fraudule...
INTRODUCTIONAn insurance company assumes risk insured by his clients and therefore, he is exposed to the danger that some risk he insured might result to heavy losses or the aggregate or some losses he incurred within a period of time say one year would be so large as to wipe out it profit and possible endanger its risk to the reinsurance company.Therefore, reinsurance is the method whereby an original insurer distributes its risk by giving the whole or some portions to another insurer reinsu...
ABSTRACTInsurance companies are legal entities that cover the insured against certain unexpected occurrence of an event in exchange for payment of a predetermined amount of money called premium. In underwriting insured risks insurance companies do accepts risks that have different risk profile but the acceptance of those risks are under different conditions which they face a lot of challenges in carrying out these activities because of low modern technology and facilities, lack of professiona...
INTRODUCTIONAs part of the reform measures taken to strengthen the supervisory framework for the banking sector, the Nigeria deposit Insurance corporation (NDIC) was established by decree N.22 of 1988. This reinforcement became imperative given the up surge in the member of licensed bank following the adoption in addition to this, there was also the long term need to create and sustain an enabling environment that will engender sate and sound banking practices by protecting the banking syst...
TABLE OF CONTENTS Title Pagei Approval Pageii Dedicationiii Acknowledgement iv Abstractv Table of Contentvi CHAPTER ONE: INTRODUCTION 1.1Background of the Study 1 1.2Statement of Problems 6 1.3Objective of the Study 8 1.4Research Question9 1.5Hypothesis9 1.6Significance of the Study 11 1.7Scope of Limitation of the Study 12 1.8Definition of Terms13 CHAPTER TWO: REVIEW OF RELATED LITERATURE 2.1Introduction 16 2.2Classification of Insurance17 2.3Principles of Insurance 22 2.4Notification...
ABSTRACT Bank distress has been a predominant factor in the banking system of Nigeria since the early years of banking. This trend became noticeable in the industry with the failure of many banks in the early 90’s and late 90’s distress saga brought about the research work the evaluation of the impact of the Nigerian deposit insurance corporation (NDIC) the work is structured into a five chapter book for easy and comprehensive reading. The frist chapter deals with the background of...
INTRODUCTION Many Nigerians today hardly come to understand what pension scheme is all about, though some employees have established occupational pension scheme while others have not appreciated the value pension scheme. The believe that too many security may lead to compliance and that social security schemes may lead to abuses such as premature retirements because of generous pension benefits and withdrawals of labour. However, such abuses should not retard the effort of the progressive emp...
INTRODUCTION Insurance practice is said to date back to the period when the Phoenician traders playing the Mediterranean sea over 3000 years ago had a system of insuring against loss during their maritime adventure. Marine insurance is therefore the first class of insurance business ever transacted. It was followed by fire insurance which came after the great fire of London in 1966. In 1950, life assurance was introduced and the industrial revolution of the 18th century gave birth to accide...
ABSTRACT The main focus of this research work is the role of reinsurance in economic growth and development of Nigeria .An attempt was made to find out the extent to which Nigeria reinsurance system has contributed to growth and development of the country. Emphasis were laid on economic and social impacts drawing particular attention on the impact it has on the gross national product (G N P)and it’s efforts in ensuring the welfare of the people. Furthermore, extensive review of related lite...
ABSTRACT Insurance play a vital role in insurance companies in economic growth and development. In spite of these role and growing number of insurance companies in Nigeria, its growth and development is still being hindered because the insurance sector still witness a low level confidence in the insuring public, This study therefore is exploratory study designed to determine the role of insurance in economic development in Nigeria and the trend expectations of the insuring public. The populat...
ABSTRACT The purpose of study is to determine the roles of (NDIC) in minimizing Bankruptcy in the Nigeria deposit banks. The problem of the study was that there is consistent bank failure of the banking sector together with irregularities. The objective is to find out why there are still bank failures in Nigeria. For the success completion of this research work, the researcher makes use of both primary and secondary methods of data collection for information gathering. Primary data were c...
ABSTRACT This project deals with the role of insurance in the petroleum industries in Nigeria. The economic recession which begin in 1981 is highly correlated to the decline in the average selling price of out due to recession in the world economic situation and oil glut in the international oil market. In order to avert the current recession in the economy. There is an urgent need to diversify the economy the economy. Particularly to more meaningful expansion of the petrochemical, agricultur...
ABSTRACT In the most widely accepted sense, reinsurance is understood to be that practice where an original insurer, for a definite premium, contracts with another insurer (or insurers) to carry a part or the whole of a risk assumed by the original insurer. By insurers we mean all persons, partnerships, corporations, associations, societies, associations operating as Lloyd's, inter-insurers or individual underwriters authorized by law to make contracts of insurance. We may define insurance a...
ABSTRACT Our risk exposures are influenced by our economy, lifestyles, psychical well being, occupation, environment etc., there variables are dynamic therefore risk managers and analyst must be dynamic in their choice of tools to manage risk exposures. In their choice of tools to manage risk exposures, in this project all the knowledge that might be useful to risk managers, however have been presented in the most important process and readable way. Consequently, this project have been orga...
ABSTRACT This research work sets out to evaluate the impact of capital market as a catalyst tool for the growth of Nigerian insurance industry. The problem that prompted the research of this project was in connection with the need to recapitalize the insurance industry and position it for challenges of rising industrial and commercial activities of globalizing economy such as Nigeria, among the objectives of the study were; 1.To examine the reasons for insurance firms sourcing fund from the...