Business is too important to be left to “Business-men†to run and operate as they see fit. Moreso, if that “business†is that of insurance. The average Nigerian might not know much about insurance but he or she knows that insurance companies “donâ€t pay claims†In otherwords, the insurance industry has a bad image. This was the reason behind the federal governments creation of different insurance regulatory bodies. To prevent “quacks from doing insurance business and to protect the insuring public, insurance laws and regulatory bodies have been created to further protect the insuring public. The question now is, who are these regulatory bodies? How do they operate and how effective are they in performing their duties? This project in addition to “appraising†these regulatory bodies, will trace the genesis of regulating insurance business and finally, make recommendations on how the regulatory bodies can do better.
TABLE OF CONTENT
Title page ii Approval page iii Dedication iv Acknowledgement v Abstract vi Table of content vii
CHAPTER ONE Introduction 1 1.1 Background of study 1 1.2 Statement of Problem 2 1.3 Objective of study 3 1.4 significance of the study 3 1.5 Research hypotheses 4 1.6 Scope and limitation 5 1.7 Definition Of Terms 5
CHAPTER TWO Literature Review 8 2.1 Origin Of Insurance 8 2.2 History of insurance in Nigeria 9 2.3 The structure of the insurance market 12 2.4 The beginning of insurance supervision 14 2.5 The agents of insurance regulation 16 2.6 Reasons and objective of regulating the insurance business 19 2.7 The national insurance commission (NAICOM) 21 2.8 The impact of regulatory control/agents 24
CHAPTER THREE Data presentation and analysis 26 3.1 Analytical techniques 26 3.2 Testing the hypothesis 27 Reference 40 CHAPTER FOUR Findings, conclusion and recommendations 41 4.1 Summary of findings. 41 4.2 Conclusion of the study 42 4.3 Recommendation 43 4.4 Suggestions for further study 44 Bibliography 45 Appendix 46
