TABLE OF CONTENT
CHAPTER ONE
1.0 Introduction
1.1 Background of study
1.2 Statement of problems
1.3 Objective of study
1.4 Significance of the study
1.5 Scope limitation and delimitation
1.6 Research Hypothesis
1.7 Definition of terms
CHAPTER TWO
2.0 Review of Related Literature
2.1 Objectives of insurance regulations
2.2 Insurance Decree of 1976
2.3 Insurance Decree No 58 of 1991
2.4 Insurance Association
2.5 Brief History of Insurable interest
2.6 Claims settlement
CHAPTER THREE
3.0 Research Design And Methodology
3.1 Data source
CHAPTER FOUR
4.0 Presentation and analysis of data
4.1 Introduction
4.2 Presentation of Question
4.3 Analysis of Data
CHAPTER FIVE
5.O Summary of Findings
5.1 Decision of Findings
5.2 Conclusion
5.3 Recommendation
Bibliography/References
CHAPTER ONE
1.0 INTRODUCTION
Insurance companies deal principally money and property. According to Brettl. J. the subject matter of insurance is money and money only. They act as mobilizers of funds from surplus units and channel them to deficit units. This channeling can be referred to as indemnity. This can be put in another way, that the primary purpose traditionally of insurance to spread the financial losses of insured members over the whole of the insuring uncertainty by compensating the unfortunate few from the contributions of all members. Premium changed by the insurance company is its primary sources of manning income, therefore the insurance companies help on premium for its insured or person, financial rights or liability to mention but a few. However, the financial compensation promised by the insurer is what is called the subject matter of the contract. Insurance contract is subject to the general Principles of Nigerian Law of Contract as in any other commercial activity. It these principles that makes for its validity. Not only does it affect insurance but it operates in every other commercial aspect of life.
1.1 BACKGROUND OF STUDY
The role of insurance as one of the major economic activities of a nation has long received would acclamation. It is not a dispute that insurance has attained a high degree of commercial sophistication. Insurance business plays a major role in shaping the economic furtunes of the business enterprise institutions and individuals. The economic profits of any country usually has an impact on both cost and benefits of insurance. Thus one should consider the examination of the subject of insurance regulation timely in view of current economic climate.
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