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The Management Of Insurance Companies Towards The Development Of Business Enterprises
[A CASE STUDY OF ROYAL EXCHANGE ASSURANCE NIG. PLC.KANO STATE]
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1.4 SIGNIFICANCE OF THE STUDY
Insurance
companies form a part of the very fabric of the economy and are
indispensable to it in the modern state. They are vitally necessary
because they are one of the most important vehicles for development and
because of the security they give to entrepreneur, that policy holder
and shareholders.
The availability of insurance maximizes the
entrepreneur‟s uncertainty to the extent that some of the risks with
which he is faced with can be translated, for a fix amount called the
„‟premium‟‟. He is to fully commit his assets to the operation of his
business. This enables them to acquire the necessary confidence and
tranquility of mind that are requisites to fruitful risk looking.
1.5 SCOPE OF THE STUDY
The
researcher‟s work would have been wide in nature; however, it has
restricted itself to insurance company. Thus the study will focus and
concentrate strictly on the role of insurance company towards the
development of business enterprises. Insurance provide a means for
industrial and societies to cope with some of the risks faced in
everyday life. Earning capacity is asses that should be protected
through insurance.
1.6 LIMITATIONS TO THE STUDY
A research of
this nature is found to have a lot of limitations. Time factor was a
serious problem encountered; the period given for the completion of this
research work was share along with academic, non-academic work which
was necessary in relation with a completion of school in general. The
time spread to include the distribution and gathering of questionnaire
from respondents which was a problem of its own entirely.
Financial
constraints can never be rule out in a situation like this, the money
required for the running around, cost of materials etc.
Another
limitation is that of material for the secondary data. Even though there
are many existing text books and journals of insurance nature which
would have been used for this research work. Getting them in the library
wasn‟t easy as many students are equally writing on similar topics
which require the same materials.
1.7 STATEMENT OF HYPOTHESIS
In
every study, there is an assumption on the variable of that study. This
assumption tends to predict the outcome of the study. The hypothesis of
this study is to asset the following;-
HI: Insurance firms play a vital role in the development of nation economy.
HO: Insurance firms don‟t play a meaningful role in the development of nation‟s economy.
1.8 DEFINITION OF KEY TERMS
OD: Organizational Development
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ABSRACT - [ Total Page(s): 1 ]This project work titled ‘’the management of insurance company towards the development of business enterprises’’ a case Study of Royal exchange assurance Nig. Plc. Kano. This research work intends to survey the role and the concept of insurance companies in business and in the sustainability of business enterprises in Nigeria. The researcher adopted a descriptive method of survey; the sample method use was sampling method. Both primary and secondary sources of data wer ... Continue reading---
