The Role Of Nigerian Insurance Industry In The Promotion Of Capital Market Services

The Role Of Nigerian Insurance Industry In The Promotion Of Capital Market Services

Abstract

This design is one the content named “ The part of Nigerian Insurance Assiduity in the Promotion of Central Market Services ”. The statements of problems try to identify the problems that led to the exploration and the objects of the study force ways of working the problems the sources of data is through the oral interview and questionnaires. The instruments used were valid because they comprises the statement of the problem, the objects and the exploration questions. The instruments were dependable because the rate of return was veritably high one of the findings is that modernization of agrarian sector to insure effective development will bear native intension of colorful agrarian schemes. One of the recommendations is that government should increase mindfulness for insurance companies in Nigeria to ensure agrarian products.

CHAPTER ONE

preface

BACKGROUND OF THE STUDY

Insurance assiduity belongs to the fiscal sector. In the course of managing people’s fund the insurance companies invest in largely marketable securities, these by abetting economics growth.

In this case we may say that insurance on it’s own can be defined or said to be the social exertion which deals with people coming together to contribute in a common fund from which they compensate the many unfortunate bones who may suffer mischance in form of fiscal losses.

All mortal on earth is faced with responsibility that one or further of the hazard which form part of life will sooner or latterly be fall him and beget him some fiscal losses. For case where larger ranch or ultramodern plant is damaged by fire, the cost of putting it back may be immense and would involve the purchase of ministry and other ranch installations from abroad or within the country. The loss compensation to injured workers and other onerous liabilities which the proprietor would be ill- set to meet at a time when his means are in remains as a result of fire, flood tide, thunder, storms as a result of fire, flood tide, thunder, storms theft,etc.

Insurance, being one of the most maligned profession in the fiscal services section of the Nigerian frugality has grown by hops and bounds in terms of request size and ultraexpensive income generation since the country’s independence in 1960.

The purpose of this exploration in guarding the part of insurance assiduity in guarding agrarian products financed by the civil government of Nigeria. There’s legislation by the government to control the conditioning of insurance companies known as 2003 Insurance Act.

STATEMENT OF THE PROBLEM

1. Ignorance on the side of the planter about the colorful types of conditions that attack creatures and crops.

2. Carefree station of the people towards their ranch crops and creatures.

3. Lack of collateral to gain loan from fiscal bodies.

objects OF THE STUDY

1. To meet the public objects of development agrarian products.

2. To feed the people and to export the fat.

3. To insure that government programs and companion lines on the scheme or completely enforced.

4. To earn foreign exchange to the country.

exploration QUESTIONS

1. Does agrarian backing problem in Nigeria have anything to do with the insurance companies?

2. What are the goods of poor storehouse and packaging installations?

3. Can the ignorance on the side of the planter have anything to do with complaint that attack creatures and crops?

4. still, can the growers gain loans from fiscal bodies?

If without collateral.

SIGNIFICANCE OF THE STUDY

– scholars

This exploration work will be of immense benefits to scholars who embark on farther exploration on the analogous content in the future. A will smell as reference points for them.

– The Stake Holders

This work will be useful to all the stake holders in the capital request. These includes the borrowers of centrals.

– The Insurance Industry

The nation will benefits from this work if the recommendations of the exploration work is enforced to the latterly.

compass AND LIMITATION OF THE STUDY

compass

The study is limited to Enugu megalopolis and growers in its environs. Information gathered from Agricultural Insurance Company at Zik’s avenue Enugu were also used. Insurance cover available to form crops and beast are carried.

Limitation

The problems encountered by the experimenter in the course of this study includes

Time The time given for this work is too short as other conditioning are there to be faced.

Lack of Fund Lack of fund is another problem faced. Because of lack of plutocrat, the author couldn’t travel to pastoral areas to meet the pastoral growers.

Lack of Research Accoutrements Also posed a serious problem. Poor response from the repliers is yet another problem faced. The repliers were reticent to give free answers because of fear of being victimized by their employers.

description OF OPERATION TERMS

1. Accident A fully sinuous mistrip, which is neither anticipated, nor designed.

2. Broker An insurance conciliator who acts on behalf of the ensured and professional countries in advising and arranging their insurance business.

3. Contract of Insurance An agreement between the insurer and the ensured whereby the insurer undertakes in return for the payment of decorations to pay the insured compensation of a sum of plutocrat upon the passing of a specify event.

4. Cover Protection handed.

5. Claim The demand by the ensured a payment under the policy after the ensured indeed has passed.

6. ensured The person or association covered by an insurance policy.

7. Insurer The person who indemnifies the insurance after a claim.

8. Liability Legal responsibility for the injured to another person to damage to his property.

9. Premium The consideration paid by the ensured to secure an insurance cover.

10. Indemnity Putting the ensured in the same finance position he enjoyed before a loss accident passed.