3.1 AREA OF STUDY
3.2 POPULATION OF THE STUDY
3.3 INSTRUMENT FOR DATA COLLECTION
3.4 VALIDATION OF THE INSTRUMENTS
3.5 RELIABILITY OF THE INSTRUMENTS
3.6 METHODS OF DATA COLLECTION
3.7 METHODS OF DATA INVESTIGATION.
The image of insurance has become more sensitive than ever, because we are in are in a world full of uncertainties, all kinds of stresses, growing complexities of business in modern day. Nigeria, coupled with the increasing number of business concerns employing many hands, the importance of an insurance scheme can hardly be underestimate. We can also note that every aspect of human life in any dimension one can think of is subject to one risk or the other.
The risk involved many be against human life or material possession. Insurance is one of the social science which essentially is designed for risk taking. This process of risk taking entails the pooling together of the resources of many individuals in order word, insurance is the management of a pool of risk whereby, the fortunate members of a group assist the unfortunate few who suffer losses.
Adeyemo (1999:12) defined insurance as a social and economic device which provides financial compensation against the effects of any misfortune. This compensation is made from the accumulated contributions of all parties taking part in the insurance scheme. Apart from covering industrials insurance also protects corporate bodies and other business organization from varieties of hazards like burglary, workman compensation ideminity, goods – in – transit, public liability etc.
Investment refers to that part of a person’s income or firm’s income that is immediately put to use for a certain return of additional income.
The investment of insurance funds in Nigeria is regulated by the insurance decree of 1976 under section 18. the substantial funds held by insures are invested as a funds held by insueres are invested as to earn interest on capital gains. Insurance companies provide funds for investment through the premium they collect from their numerous policy holder. Life insurance companies for instance, invest funds that flow to them from many policy holders thus, becoming important sourc of capital funds for the Nigerian economy. Insurance companies help to provide the state with a steady flow of investment funds which are essential to the community.
The investment of insurance funds helps to contribute profits to the national purse and also provide labour for the working population in a given area. In the investment of insurance funds, the overall aim is to be able to meet liabilities when they fall due, while earning to the highest possible yield without incurring great risk too. In non-life insurance, the major problem for an insurer is the unexpectedly large claims which might force him to sell its investment at long notice, possibly at a loss. As a result of this, insurers therefore, concentrate on investment which can be sold at short notice, such include shares and stocks and avoid those that cannot be sold at short notice.
In life assurance, the safety of the funds as well as very high yields, are of paramount importance because of long-term nature of their liabilities. Long-term investment are useful to life assures.
1.0 BACKGROUND OF THE STUDY
Hallmark Assurance Nigeria company started business as one of the insurance companies on 15th July 1969.The company has since been rendering excellent services to the nation and to the world a large.
companies invest on has yielded benefit
During the research work, the researcher was able to make the following assumption
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