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Business Ethics in Insurance Industry in Nigeria

Author

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  • Isimoya O

Abstract

This study conceptually x-rayed the insurance practice in Nigeria, particularly the non-adherence to business ethics philosophy in their operations. Though Nigeria potentially has the largest insurance market in the African continent, she trails behind South Africa, Egypt, and Morocco in insurance market premium volume in 2011. This study revealed that unethical practices holds sway in the industry, resulting in lost of confidence, poor insurance patronage and stunted growth for insurance industry. Drawing from the theoretical perspectives of business ethics, we recommend the adoption of business ethical relationship philosophy by Nigeria insurance industry, if she is to be liberated from her current economic doldrums.

Suggested Citation

  • Isimoya O, 2014. "Business Ethics in Insurance Industry in Nigeria," International Journal of Management and Sustainability, Conscientia Beam, vol. 3(6), pages 341-359.
    • Handle: RePEc:pkp:ijomas:v:3:y:2014:i:6:p:341-359:id:968
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    Citations

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    Cited by:

    1. Felix, Araoye & Emmanuel, Olatunji, 2019. "Effect Of Board Attributes On Financial Performance Of Quoted Insurance Companies In Nigeria," International Journal of Contemporary Accounting Issues-IJCAI (formerly International Journal of Accounting & Finance IJAF), The Institute of Chartered Accountants of Nigeria (ICAN), vol. 8(1), pages 78-96, June.
    2. Md. Bokhtiar Hasan & Md. Delowar Hossain & Abu N.M. Wahid, 2018. "Application of Forward Contract and Crop Insurance as Risk Management Tools of Agriculture: A Case Study in Bangladesh," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 8(12), pages 1394-1405, December.
    3. Venkata Sai Srinivasa Rao Muramalla & Ateeq Mesfer Al-Hazza, 2019. "Entrepreneurial Strategies and Factors Stimulate the Business of Tech Startups," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 10(3), pages 360-370, May.
    4. Adedokun Lateef Adetunji & E. Chuke Nwude & Sergius N. Udeh, 2018. "Interface of Insurance and Economic Growth: Nigerian Experience," International Journal of Economics and Financial Issues, Econjournals, vol. 8(4), pages 16-26.
    5. Nafisa Aminu Yusuf* & Che Su Mustaffa & Bahtiar Mohamad, 2018. "External Perception of Organisational Culture and Customer Based Corporate Reputation: The Mediating Role of Transparent Communication," The Journal of Social Sciences Research, Academic Research Publishing Group, pages 638-645:6.

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