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Assessment of risk recognition and management in Nigeria insurance companies - a cases study of Cornerstone Insurance Plc, Warri, Delta state

 Department: Business Administration and Management  
 By: usericon kruskalstat  

 Project ID: 3123
   Rating:  (5.0) votes: 1
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   Price:₦3000
Abstract
This study examines the methods used by insurance companies in Nigeria to identify and manage risk. The study used Cornerstone Insurance Plc. Ekpan as a case study where the use of questionnaire method was used to successfully collected the necessary data. The data were analyzed using the percentage analysis and the Chi-square test of independence. From the analysis of data, it was found that the major ways insurance companies in Nigeria recognizes risk includes, the market competition of an enterprise, technological advancement, shortage of capital or undercapitalization, CEO’s leadership lifestyle and financial report of the enterprise. Also, it was concluded that there is a significant relationship between risk management and business growth, and hence, business growth was found to be dependent on risk management. From the result of the study, it was recommended that firms and industries should have their enterprises insured since the risk identification and management scheme of the Nigerian insurance companies is adequate....
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