Between Re-capitalisation and Consumer Confidence: The Missing Links in the Nigerian Insurance Industry’s Quest for Corporate Success

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dc.contributor.author Obalola, Musa Adebayo en
dc.contributor.author Yusuf, T. en
dc.contributor.author Omoteso, Kamil en
dc.contributor.author Sulaimon, A. en
dc.contributor.author Akosile, O. en
dc.date.accessioned 2012-08-23T13:18:21Z
dc.date.available 2012-08-23T13:18:21Z
dc.date.issued 2010
dc.identifier.citation Obalola, M., Yusuf, T., Omoteso, K., Sulaimon, A. and Akosile, O. (2010) Between Re-capitalisation and Consumer Confidence: The Missing Links in the Nigerian Insurance Industry’s Quest for Corporate Success. The Nigerian Journal of Risk and Insurance, 7(1) pp. 77 - 100. en
dc.identifier.issn 0794-8654
dc.identifier.uri http://hdl.handle.net/2086/6921
dc.description This is a joint article written in collaboration with four other collagues who lecture in different higher institutions in Nigeria. The copyright of this artcle belongs to the Nigerian Journal of Risk and Insurance en
dc.description.abstract The recent re-capitalisation in the Nigerian Insurance Industry was underscored by the need to build strong companies that will bolster the industry’s capacity to bear risk, deliver quality services to the insuring public and contribute to the country’s economic growth and development. With a population of over 140 million where only a fraction of these have insurance policies the ability of the industry to garner sufficient pool of premium to meet its restoration function and stimulate the economy through short and long term investments is seriously threatened. Given this low and poor market penetration, we argue in this paper that success in the industry can only be achieved if consumer confidence in insurance services is restored. While demonstrating that the special nature of insurance business opens it to ethical abuse, the paper argues that failure to evince higher ethical behaviour from insurance practitioners is due to its devoid of trust. In furtherance of this argument, we proposed an integrated model of ethics-based trust as an effective way of getting the industry out of the present doldrums. en
dc.language.iso en en
dc.publisher The Nigerian Journal of Risk and Insurance en
dc.subject insurance regulation en
dc.subject financial services en
dc.subject professional ethics en
dc.subject social responsibility en
dc.subject ethical intentions en
dc.subject moral principles en
dc.subject trust en
dc.title Between Re-capitalisation and Consumer Confidence: The Missing Links in the Nigerian Insurance Industry’s Quest for Corporate Success en
dc.type Article en
dc.researchgroup Accounting and Finance en
dc.peerreviewed Yes en


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