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Relevance of Risk Management in Public Corporation

Relevance of Risk Management in Public Corporation (A Study of Nigeria Airspace Management Agency)

Literature Review

The topic risk management in public corporation has been discussed by some authors either in full tent or general discussions or risk management as applied to the industry some of author’s views are highlighted below.

According to C. Arthur Williams jr. and Richard .M. Heinz (1998) in tents “risk management and insurance” risk is defined as the variation in the outcome that could occur over specified period  in a given situation. If only one outcome is possible the variation and hence the risk is zero. If many one outcome are possible, the risk is not zero. The greater the variation the greater the risk. The degree of risk inversely related to the ability to predict which outcome will actually occur. If the risk is zero, the future is perfectly predictable and more manageable. Risk has also been defined as the variation in the possible outcome that exists in a given situation. [Read more…]

Investigation of Various Risk Exposed in Higher Institution of Learning in Nigeria and Solution

The Investigation of Various Risk Exposed in Higher Institution of Learning in Nigeria and Solution (A Case Study of Federal Polytechnic, Oko)

Related Literature Review

An Over View

The basic characteristics of living are risk. It surrounds every aspect of our daily life. Risk is commonly defined as uncertainty as to loss. In common terms, risk may be defined as the chance of a loss or chance of bad incidents. Risk is closely associated with uncertainty. It is however, interesting to note that life will be worthless where there is risk.

Risk or uncertainty, if we may use this word, in its stand cannot be eliminated from our lives. It is therefore basic for man to find way of minimizing risk by controlling and managing it. [Read more…]

Effect of Consumer Buying Behavior of Insurance Product and Services

The Effect of Consumer Buying Behavior of Insurance Product and Services

Review of Related Literature

According to Howard and shift (1969) the attitude of consumers towards the commodity will depend on individual differences. They went further by three different possibilities when considering buyers attitude towards risk namely: A buyer who dislike the existence of a risk is known as risk averters. A buyer is different as to whether risk exists or not is called RISK NEUTRAL the third category is known as RISK AVERTER, since he would actually seek out risk situation Berkam and Gilson (1981) in their analysis started that market items comprise of physical or durable goods and services. [Read more…]

An Appraisal of the Viability of Cooperative Insurance in Nigeria

An Appraisal of the Viability of Cooperative Insurance in Nigeria (A Case Study of First Enugu International Cooperative Insurance

Review of Related Literature

The practices of insurance businesses as they exist today are relatively young in Nigeria commercial venture. It is axiom that the importance of modern commerce in insurance cannot be over-emphasized as insurance industry, among its numerous functions, is a major mobilize or funds for economic development, as well as being a provider of financial security for individual and corporate bodies. [Read more…]

Critical Review of Accounting System in Nigeria Insurance Industry

A Critical Review of Accounting System in Nigeria Insurance Industry (A Case Study of Industrial and General Insurance Company Ltd)

Literature Review

History of Insurance Company

Insurance as a business started far back as at 3000 B.C when the baby lanais developed a loan system of maritime ventures. The system loan in the event of loss was not repayable; the system subsequently in ancient Greece was developed and seems acceptable in the ancient world.

In England by the end of the sixteenth century “an act concerning matter of assurance amongst merchant “indicated and well established customer of insurance of marine ventures. [Read more…]