An Evaluation Of The Contributions Of Insurance Companies In The Economic Development Of Nigeria A Case Study Of Nicon Insurance Plc

📄 Project Abstract

The role of the insurer in any polity is that of bearer of risks. In other words, the populace can feel insulated from risks when they take advantage of insurance to rely on when the unexpected strikes. It is for this reason that the federal government mooted the idea of an insurance company in the late 60s which is today known as NICON Insurance Plc. Hence this project sets out to investigate the contribution of insurance companies in the economic development of Nigeria with keen interest in NICON Insurance Corporation Plc. In order to facilitate the research work and to get reliable information, the data was collected through primary and secondary sources. It is important to note that insurance has, over the years, developed both positive and negative facets - positive in its insulative function, negative in its refusal to perform this function. While acknowledging delay or outright refusal to settle genuine claims by some insurance companies, the populace in placing their insurance ...