The Role Of Insurance Companies In The Nation’s Economic Development And Growth

The purpose of writing this paper, I have evaluated and highlight the role play by insurance companies in the nations economic development and growth. The focus in the study is on the major development with in the following sectors of the economy.

  Banking institution: The insurance companies have played vital roles in the development of banking institutions. These foundations of the insurance institution had helped the banks because most distressed banks are due to loan which they are unable to recover.

 Individual: insurance stimulates business activities since in the event of any loss the insurance must indemnify the individual restraining the money and property which could have been on economic west.

  The public: the public had almost lost faith in indigenous bodies but the establishment of NDIC has vectored the confidence in the public to deposit with these banks. 

TITLE PAGE                                                                        i

APPROVAL PAGE                                                              ii

DEDICATION                                                                      iii

ACKNOWLEDGEMENT                                                    iv

ABSTRACT                                                                          v

TABLE OF CONTENT 

CHAPTER ONE 

1.0 INTRODUCTION

1.1 OBJECTIVE OF THE STUDY

1.2 SIGNIFICANCE OF THE STUDY

1.3 SCOPE AND LIMITATION OF THE STUDY

1.4 DEFINITION OF TERMS

2.1 OVERVIEW OF INSURANCE 

2.2 DIFFERENT CLASSES OF INSURANCE AND THEIR CONTRIBUTION IN ECONOMIC DEVELOPMENT 

2.3 THE ROLE OF INSURANCE 

2.4 RESTRICTIVE FUNCTIONS

3.1 SUMMARY OF FINDINGS

3.2 CONCLUSION

3.3 RECOMMENDATION

BIBLIOGRAPHY