ABSTRACT
The objective of this research work is to look into the performance of the Nigerian insurance industry viz a viz the procedure and approach to claim settlement. Individuals hold diverse opinion about this industry and the general impression is that the insurance industry has failed to win the confidence of the insuring public. Often times, people make remark such as "unwilling to settle claim but always willing to collect premium and use its small prints in the policy to decline its liability". It is the belief about the industry is allowed to continue and not corrected that the industry will totally collapse and the after effect will be over bearing on the economy. When we consider the importance of insurance in the economic development of any nation, it is therefore the intention of the researcher to find out if this allegation is true or otherwise, proffer solution and make recommendation that will help to solve these problems.

TABLE OF CONTENTS

Title page                                    ii
Approval page                                iii
Dedication                                    iv
Acknowledgement                                v
Title page                                    vii

CHAPTER ONE
Background of Study                            1    
1.1    Statement of problem                        3
1.2    Objective/Purpose of Study                    4
1.3    Research Question                            6
1.4    Significance Of Study                        6
1.5    Scope & Limitations of Study                    7
1.6    Definition of Terms                        9
Reference                                13

CHAPTER TWO
Literature Review                            14
2.1     Historical Development of Insurance                15
2.2     Insurance Market                            18
2.3     Benefits of Insurance                        34
2.4     Classes of insurance                        38
2.5     Claims Settlement                            40
2.6     General Claims Procedure                    42
2.7     Conditions under which Insurer may refuse to settle claims                    46
2.8    Exception clauses relieving the Insurer from Liabilities when claim is filed.                48
 Reference                                51

CHAPTER THREE
3.0     Methodology and Research Design                53
3.1     Sources of Data                            55
3.2     Description of Population                    55
3.3     Sampling Procedure                        55
3.4     Instrument of Data Collection                    56
3.5     Data collection Procedure                    57
3.6     Statistical method of Analysis                    57
    Reference                                58

CHAPTER FOUR
Data Presentation and Analysis of Data            59

CHAPTER FIVE    
Summary of findings/Recommendations and Conclusion    72
5.1    Summary of findings                            72
5.2    Recommendation                            73
5.3    Conclusion                                75
Bibliography                            77
Appendix                                83