ABSTRACT

Business is too important to be left to â€�“Business-menâ€Â� to run and operate as they see fit. Moreso, if that â€�“businessâ€Â� is that of insurance. The average Nigerian might not know much about insurance but he or she knows that insurance companies â€�“don’t pay claimsâ€Â�  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 â€�“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 â€�“appraisingâ€Â� 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