The Language of Indemnification and the Economic Growth of Nigeria: Perspectives From Assurance Firms

This study examined the role of insurance in the economic development of Nigeria. Primary data were the sources of data for this study. A structured questionnaire was used to elicit data from the respondents. The data collected was drawn from the two companies Aiico and Alliance and General Insurance, using a simple random sampling technique. The data were subjected to Analysis of Variance (ANOVA) using Statistical Package for Social Sciences (SPSS) was adopted in testing the hypotheses. The results of the study revealed that there was a positive and significant relationship between the role of insurance and economic development in Nigeria. It was concluded that organizations, especially top management, should recognize the importance of the role of insurance