Insurance Companies And Their Impact On Economic Development Of Nigeria

Business produce goods and services to satisfy the demand of customers. Muchas these businesses declare profit year-in-year-out, they also face element of riskand uncertainties that may causes losses. This includes fire, theft, damage byartificial or natural agents and so forth. The business men in the olden daysengage into economic activities with pessimism and fear of incurring losses. Thisinhibits large scale production which is capital intensive. However, with the adventof the insurance business, things improved for the between, as business menbecome encouraged to commit more of their reso…