ABSTRACT
In
this research work titled ‘The contributions of insurance in the sports sector of
Nigeria. The researcher investigated why Nigerian sports sector do not embraces
insurance protection. Investigated the factors militating against the insurance
industry not to create adequate awareness about sports insurance protection. The information for the study was collected using
primary and secondary methods of data collection. For a primary data
collection, while existing literature relevant to the topic was consulted for
the secondary data. The research used chi-square statistical model to analyze
the data. four major findings were made, based on the findings the
recommendations proffered are; Nigerian
sports sector should be educated on the benefit of insurance policies to enable
them embrace insurance protection. Nigerian insurance industry should try as
much as possible to settle claim, for the public not to see them as fraudsters.
TABLE OF CONTENTS
Title page i
Approval page ii
Dedication iii
Acknowledgement iv
Abstract vi
Table of contents vii
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study 1
1.2 Statement of the Problem 3
1.3 Objective of the Study 6
1.4 Research Questions 7
1.5 Research Hypotheses 8
1.6 Significance of the Study 9
1.7 Scope and Limitations of the Study 9
1.8 Definition of the Terms 10
Reference 13
CHAPTER TWO
REVIEW OF
RELATED LITERATURES
2.1
An overview 14
2.2
History Insurance In Nigerian Sports
Sector 14
2.3 Historical Development of Nigerian Sport Sector 16
2.4
The Development of Insurance in
Nigerian Sports Sector 27
2.5 Role of sports in the development of Nigerian
Economy 30
2.6
Sports Administration and Insurance in Nigerian 34
2.7
Analysis of Nigerian sports policies and its impact on Nigerian sports 38
2.8
The Challenges of Insurance in
Nigerian Sports Sector 44
Reference 46
CHAPTER THREE
RESEARCH
METHODOLOGY AND DESIGN
3.1 An Overview 49
3.2 Source of Data 49
3.2.1
Primary data 50
3.2.2
Secondary data 50
3.3 Population of the Study 51
3.4 Sample size and Sampling Techniques 52
3.5 Validity and Reliability of the Instrument 55
3.6 Method of data Presentation and Analysis 56
CHAPTER FOUR
DATA
PRESENTATION ANALYSIS, DISCUSSION OF FINDING
4.1 An overview 59
4.2 Data presentation 60
4.3 Data Analysis 61
4.4 Testing of Hypothesis 71
4.5 Discussion of Findings 78
CHAPTER FOUR
5.1 Summary of Findings 80
5.2 Conclusions 81
5.3 Recommendations 82
5.4 Suggestions for Further Studies 86
Bibliography 87
Appendixes 90
Sample questionnaire 91
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
Nigerian
insurance industry has been in a great trend of improvement from the
pre-consolidation to the post consideration ear. They are smarting from the
wealth sport industry from the recapitalization and expanding globally to
compete internation communities. They are currently participating in the local
content initiative of out and gas business energy insurance marine and aviation
and other transportational and logistic risks. Hence, Nigerian supporting
industry is an area that have not actually benefited from the activities of
insurance since insurance has been defined as a social security welfare, it
will help the participants to boast
their confidence in participating in sports without fear. Nigeria is not only
seen as a leading country in Africa in the field of sports but also a world
achiever in the field such as world cup of various categories is over
emphasized.
because
he scored four goals in match.the family comprehensively recovered by way of
insurance protection which is not obtainable in Africa setting Ukpai (2004)
advocated that insurance in sports will create confidence, provides for
retirement protection, protects various elements of disability and equally
improves an economy. Mordi (1988) Opined that a country with adequate insurance
protection is a sick country and s healthy country is a wealthy nation. Based
on this maximum it is plausible that we evaluate the contributions of insurance
business in the development of sporting sector in Nigeria.
1.2 Statement of problems
Based
on the nature of sporting activities in Nigeria and their inherent, The
followings are the identified statement of problems;
1. Studies
has shown that Nigerian sports sector do not embraces insurance protection.
2. Lack
of awareness has been one of the challenges faced by insurance industry.
3. Another
major challenge facing Nigerian insurance industry is nonpayment of claims
which results to loss of image and confidence in insurance contract by the
sports sector.
1.3 Objective of the Study
The
aim of this research work is to evaluate the contributions of insurance in the
sports sector in Nigeria. The specific objectives of this research work
includes the following;
1. To
investigate why Nigerian sports sector do not embraces insurance protection.
2. To
investigate the factors militating against the insurance industry not to create
adequate awareness about sports insurance protection.
3. To
know why insurance industry do not pay claims immediately which results to loss
of image and confidence in the sports sector.
1.4 Research Questions
The
researcher developed the following research questions
1. Why
are the Nigerian sports sector not embraces insurance protection?
2. What
are the factors militating against the insurance industry in terms of creating
awareness about sports insurance protection?
3. Why
do insurance industry not pay claims immediately which results to loss of image
and confidence in the sports sector.
1.5 Research Hypotheses
Based
on the above research objectives and questions, the researcher formulated the
following research hypotheses;
Ho:
Nigerian sports sector do not embrace insurance protection.
H1:
Nigerian sports sector embraces insurance protection.
Ho:
Nigerian Insurance industry do not create adequate awareness about sports
insurance protection.
H1:
Nigerian Insurance industry creates adequate awareness about sports insurance
protection.
Ho:
Nonpayment of claims immediately by the insurance industry does not results to
loss of image and confidence in the sports sector.
H1:
Nonpayment of claims immediately by the insurance industry results to loss of
image and confidence in the sports sector.
1.6
Scope
and Limitation of the Study
Scope of the Study
This
research work will focus on the contributions of insurance in the sports sector
in Nigeria. The area of this research work is Nigerian football association
Enugu state chapter.
Limitations
The
researcher in carrying out this study encountered numerous problems which
includes:
·
Fund
·
Time
·
Lack of Research materials
The
researcher did not have enough money to visit the company as money times as
many times as required data adequately.
The
time allotted for the work was not enough. This is because I had to share the
time with other academic works of the semesters. This made her unable to cover
a lot of interesting areas but therefore limited her research work only at
Enugu metropolis.
Lack
of research materials was also one of the problems faced by the researcher in
the cause of this research work.
1.7 Definition of operation Terms
1) Insurance: Insurance is an agreement with a company in which
you pay them regular amount of money and they agree to pay the costs.
2) Insurance
industry: Insurance industry
is the equitable transfer of the risk of a loss, from one entity to another in
exchange for payment. It is a form of risk management primarily used to hedge
against the risk of a contingent and uncertain loss.
3) Insurer: Insurer is a person or company that provides
people insurance.
4) Insured:
Insured is the person who made an arrangement with an insurance company and who
receives money if for example, they are all/sick or if they lose or damage
something.
5) Compensation: Compensation, something typically money, awarded
to someone as a recompense for loss, injury or suffering.
6) Sporting: Sporting is connected with or interested in sports
fair and generous in one’s behavior or treatment of others, especially in a
game or contest.
7) Contract: An agreement with specific terms between two or
more persons or entities in which there is a promise to do something in return
for a valuable benefits known as consideration.
8) Risk: Risk is the possibility of something b ad
happening at sometime s in the future. a situation that could b e dangerous or
have a bad result.
9) Participants: A person who is taking part in an activity or
event e.g. he has been an active participant in the discussion.
10)
Sum Insured:
The sum insured is the maximum amount the insurance company will pay in the
event of a claim.
Get the Complete Project Material Now!!!
