THE VOLUME OF MARINE INSURANCE BUSINESS IN AN INSURANCE FIRM AND ITS IMPACT ON CORPORATE TURNOVER

Format: MS WORD  |  Chapter: 1-5  |  Pages: 75  |  21 Users found this project useful  |  Price ₦3,000

GET THE COMPLETE PROJECT

THE VOLUME OF MARINE INSURANCE BUSINESS IN AN INSURANCE FIRM AND ITS IMPACT ON CORPORATE TURNOVER

 

ABSTRACT

This project is purely an academic exercise presented to the department of insurance, IMT, Enugu in partial fulfilment of the requirement for the award of higher national diploma in insurance From the project titled” the VOLUME Of MARINE INSURANCE ON CORPORATE TURNOVER”. This research work looks into the relatives contribution of marine insurances to the total  presume income of UNIC insurance plc, a company established in 1965 and which underwriters insurance risks in all classes of insurances business (life and Non-life). It also focus on the establishment of a period of three years 2003, 2004 and 2005 and the comparative growth in earnings attributable to marine insurance. The methodology deals with the company’s investigation and analysis of actual corporate performance. It also deals on the major  problems which UNIC PLC pace in generating higher premium income from marine insurances free from fraudsters. The objective of this study broke into. How it can identify the major non-life insurance business from UNIC PLC from 200-2005 and he specific contributions of marine insurance to overall performance. It also determine the relative importance and volume of marine insurance as a revenue generating sources. It also gains an inside knowledge of marketing operating of marine insurance business, the customer profile and the procedure for claims requirement.

 

CHAPTER ONE

BACKGROUND TO THE STUDY

Insurance is a fascinating area of study which covers many areas including life, motor, contractor’s all risk, goods-in-transit, fidelity bonds, fire and Burglary, workmen’s compensation personal accident and marine. In Nigeria, however, many people hunk that it is only concerned with life, fire and motor. Some insurance companies also have the motion that only profitable areas in insurance are generally accident, fire and life. Marine insurance is not given adequate attention and its value as an income generating source is overlooked. Professionally the concept of insurable interest is seldom attached to marine insurance at inception whereas insurable interest exists for other classes of insurance at inception.

It is on the basis of this tidy that marine insurance is an interesting area of study because it has many facts, each of which constitutes its own specially and deserves professional treatment for instance, the calculation of premium and settlement of claims in marine insurance requires specialized knowledge of shipping, clasificaiton of goods an freight charges. Another reason which marine insurance comes across as being so unique is that aspect of international commerce with which limited  to the local regions of its country of operation. It is ahs its overbearing impact in other countries practices as far as cargoes leave or come to their shores are concerned.

1.2     OBJECTIVES OF THE STUDY

this project was a study of UNIC pLC and it was concerned with analysis of income generated form marine insurance over a  period of three years.

The primary objective was to determine the percentage of contribution of all types of marine insurance to the company’s annual income.

To determine the relative importance and volume of marine insurance as a revenue generating source.

To determine the quantum of income form marine insurance business.

To identify the major non-life insurance businesses form which UNIC PLC, derived its incomes from 2003, 2004 and 2005 and the specific contributions of marine insurance to overall performance.

1.3     STATEMENT OF PROBLEM

The statement of problem therefore, is that marine insurance business in developing countries like Nigeria is still not well known or developed. Thus, it is not likely to contribute much to an organization turnover.

SIGNIFICANCE OF THE STUDY

The company would be able to have a clear picture of its performances for it to know if it is growing or declining and  then be able to plan ahead for a better performance in the coming years. Also that client would also be provided with vital information about UNIC PLC, it  performance generally and specially in marine insurance, when the company was established and its strength. The country would also benefit in the sense that they would be able to generate revenue from marine. Insurance as it does in motor insurance with the little information gotten form this research work.

1.5     RESEARCH QUESTION

What has been the trend in the growth of marine insurance business in the past 5 year?

Which business organization and institutions patronize your company for marine business?

Is there any future for the Nigerian marine insurance industry ?

How is marine insurance business processed?

SCOPE AND LIMITATION OF THE STUDY

Scope: the scope of this research work is strictly restricted to the typical Nigerian who might fall to the category of the uneducated or illiterate, the unoriented and the ignorant.

Limitation:  the major limitations of this research work is mainly as a result of time constraint, lack of existing publication of the virgin topic as well as financially in carrying out further research on this believed topic of mine at the student’s level of income.

1.7     DEFINITION OF TERMS

Cargo –  Goods in a ship

Commission –  payments made to an intermediary (broker

or agent) for introducing to or handling of the business for an insurer.

Goods –   Goods in the nature of merchandise. It also

not include personal effects or provisions and stores for use or board

Freight insurance: –  insurance of the profit.

Hull   –   The frame or body of a ship

Hull policy: covers the vessel and its machinery.

GET THE COMPLETE PROJECT

Not What You Are Looking For?



For QUICK Help Call Us Now!

+234 813 292 6373


Here's what our amazing customers are saying

JONNAH EHIS
Ajayi Crowther University, Oyo
I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!
Excellent
MATTHEW NGBEDE
Ahmadu Bello University
I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!
Excellent
Temitayo Ayodele
Obafemi Awolowo University
My friend told me about iprojectmaster website, I doubted her until I saw her download her full project instantly, I tried mine too and got it instantly, right now, am telling everyone in my school about iprojectmaster.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work
Very Good
Stancy M
Abia State University, Uturu
I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much iprojectmaster, infact, I owe my graduating well today to you guys...
Excellent
Ibrahim Muhammad Muhammad
Usmanu danfodiyo university, sokoto
It's a site that give researcher student's to gain access work,easier,affordable and understandable. I appreciate the iproject master teams for making my project work fast and available .I will surely,recommend this site to my friends.thanks a lot..!
Excellent
Dau Mohammed Kabiru
Kaduna State College of Education Gidan Waya
This is my first time..Your service is superb. But because I was pressed for time, I became jittery when I did not receive feedbackd. I will do more business with you and I will recommend you to my friends. Thank you.
Very Good
Joseph M. Yohanna
Thanks a lot, am really grateful and will surely tell my friends about your website.
Excellent
Merry From BSU
I am now a graduate because of iprojectmaster.com, God Bless you guys for me.
Excellent
Samuel From Ajayi Crowther University
You guys just made life easier for students. Thanks alot iprojectmaster.com
Excellent
Musa From Ahmadu Bello University
Thank you iprojectmaster for saving my life, please keep it up and may God continue to bless you people.
Excellent

HOW TO GET YOUR COMPLETE PROJECT INSTANTLY

  • Select 3 Project Topics of your choice from your Department.
  • Submit the 3 topics to your Supervisor for Approval.
  • Call Our Instant Help Desk on 0813-292-6373 and Get Your Complete Project Material Instantly.
  • All project materials on this website are well researched by professionals with high level of professionalism.

FREQUENTLY ASKED QUESTIONS

How do i choose a Project Topic?

Look for your department and select any topic of your choice

I have a fresh topic that is not on your website. How do I go about it?

How fast can i get a complete project from your website?

Within 15 minutes if the exact project topic is on our website

Is it a complete research project or just materials?

It is a Complete Research Project i.e Chapters 1-5, Abstract, Table of Contents, Full References, Questionnaires / Secondary Data

One of your topics suites my project, but the case study is different. What do i do?

Call Our Instant Help Desk Now: (+234) 813-292-6373 and you will be responded to immediately

How do i get my complete project?

Your Complete Project Material will be sent to your Email Address in Ms Word document format

Can I get my Complete Project through WhatsApp?

Yes! We can send your Complete Research Project to your WhatsApp Number

What if my Project Supervisor made some changes to a topic i picked from your website?

Call Our Instant Help Desk Now: (+234) 813-292-6373 and you will be responded to immediately

Do you assist students with Assignment and Project Proposal?

Yes! Call Our Instant Help Desk Now: (+234) 813-292-6373 and you will be responded to immediately

What if i do not have any project topic idea at all?

Smiles! We've Got You Covered. Chat with us on WhatsApp Now to Get Instant Help: (+234) 813-292-6373

How can i trust this site?

We are well aware of fraudulent activities that have been happening on the internet. It is regrettable, but hopefully declining. However, we wish to reinstate to our esteemed clients that we are genuine and duly registered with the Corporate Affairs Commission as "PRIMEDGE TECHNOLOGY". This site runs on Secure Sockets Layer (SSL), therefore all transactions on this site are HIGHLY secure and safe!