The objective of this research work is to look into the performance of the Nigerian insurance industry viz a viz the procedure and approach to claim settlement. Individuals hold diverse opinion about this industry and the general impression is that the insurance industry has failed to win the confidence of the insuring public. Often times, people make remark such as “unwilling to settle claim but always willing to collect premium and use its small prints in the policy to decline its liability”. It is the belief about the industry is allowed to continue and not corrected that the industry will totally collapse and the after effect will be over bearing on the economy. When we consider the importance of insurance in the economic development of any nation, it is therefore the intention of the researcher to find out if this allegation is true or otherwise, proffer solution and make recommendation that will help to solve these problems.
Title page                           ii
Approval page                        iii
Dedication                           iv
Acknowledgement                        v
Title page                           vii
CHAPTER ONE
Background of Study                     1
1.1   Statement of problem                  3
1.2   Objective/Purpose of Study               4
1.3   Research Question                     6
1.4   Significance Of Study                  6
1.5   Scope & Limitations of Study               7
1.6   Definition of Terms                  9
Reference                        13
CHAPTER TWO
Literature Review                     14
2.1    Historical Development of Insurance            15
2.2    Insurance Market                     18
2.3    Benefits of Insurance                  34
2.4    Classes of insurance                  38
2.5    Claims Settlement                     40
2.6    General Claims Procedure               42
2.7    Conditions under which Insurer may refuse to settle claims               46
2.8   Exception clauses relieving the Insurer from Liabilities when claim is filed.            48
 Reference                        51
CHAPTER THREE
3.0    Methodology and Research Design            53
3.1    Sources of Data                     55
3.2    Description of Population               55
3.3    Sampling Procedure                  55
3.4    Instrument of Data Collection               56
3.5    Data collection Procedure               57
3.6    Statistical method of Analysis               57
   Reference                        58
CHAPTER FOUR
Data Presentation and Analysis of Data         59
CHAPTER FIVE
Summary of findings/Recommendations and Conclusion   72
5.1   Summary of findings                     72
5.2   Recommendation                     73
5.3   Conclusion                        75
Bibliography                     77
Appendix                        83
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