POOR IMAGE OF INSURANCE AS A TRAIT TO ITS DEVELOPMENT

INTRODUCTION  Insurance practice is said to date back to the period when the Phoenician traders playing the Mediterranean sea over 3000 years ago had a system of insuring against loss during their maritime adventure. Marine insurance is therefore the first class of insurance business ever transacted. It was followed by fire insurance which came after the great fire of London in 1966. In 1950, life assurance was introduced and the industrial revolution of the 18th century gave birth to accident insurance (the principle of marine insurance H.A. Tuner) (1971). However, the present day modern insurance started in Nigeria in 1921, about seven years after the birth of a Nigeria nation in 1914. The united African company otherwise known as the uniliver group of companies, had trading posts in Nigeria. As an offshoot of colonialism it did a lot of trading from U.K. to Nigeria and in order to ensure that claims under its polices were processed on time, it established agencies in Nigeria. It was not until most later that the first British issuance company “the royal exchange assurance was established. This was followed by the Norwich union fire insurance society limited. Until 1960 when Nigeria gained her independence the development of insurance in the country was allow because of the exploitation of her colonial masters for at independence in 1960, there were about twenty insurance companies owned and managed by expatriate excepting “African Insurance company limited that was founded by the late Dr. K.O. Mbadiwe in 1950 and general insurance company limited founded in 1951. After independence and more especially after the civil war in 1970, there are now over 145 insurance companies almost all of them wholly owned and managed by Nigerians. Since all this insurance companies are established, there has been lots of trait to its development and these trait is caused by poor image of insurance. The image of anything or being can be described as the mental concept of that thing or being. The public image of an individual, an organization, or a professional group therefore is simply the character of the person or body as perceived by the general public.

TABLE OF CONTENTS Title page  Approval page  Dedication  Acknowledgement  Table of contents  Abstract 
CHAPTER ONE  Introduction  1.1Background of the study  1.2Statement of the problem  1.2.1Framework for regulating insurance company  1.2.2Failure of government policy  1.2.3The practice of supervising insurance companies in Nigeria  1.3Purpose of the study  1.4significance of the study  1.5Limitation of the study  1.6Definition of terms 
CHAPTER TWO  Review of related literature 2.1The insurance market  2.2The role of intermediaries as a tool 2.3Level of literacy or illiteracy  2.4Public ignorance  2.5marketing  2.6Image problem  2.7SAP and the economy  2.8Political instability  2.9Prompt claims settlement  2.10Shortage of manpower  2.11Inflation  Foot notes 
CHAPTER THREE 3.1RESEARCH DESIGN AND METHODOLOGY 3.2AREA OF STUDY 3.3POPULATION OF THE STUDY 3.4SAMPLE AND SAMPLING PROCEDURE 3.5SOURCES OF DATA 3.6RELIABILITY OF INSTRUMENT
CHAPTER FOUR 4.1DATA PRESENTATION, ANALYSIS AND INTERPRETATION 4.2ANALYSIS OF RESEARCH QUESTIONS PART ONE RESPONDENTS INDICATION OF SEX
CHAPTER FIVE  5.1Professional practice and ethics 5.2Recommendation  5.3Conclusion  Bibliography