SOYE, Yinka Augustine and Maliki, O.T. (2020) COVID-19 Pandemic Lockdown: It’s Economic Shock on Insurance Business in Nigeria. In: 2nd International Conference (Virtual), 10-11 NOVEMBER 2020, The Federal Polytechnic Ilaro.
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Abstract
The sudden outbreak of the pandemic Covid-19 novel has led many organizations to the adoption of unprepared for strategies for the survival of their entities due to the shock posed by the corona virus on their routine business. On this note this study bordered on the economic shock of corona virus on the business of insurance companies in Nigeria. The finding of the study reveals that, the pandemic posed economic shock on insurance business activities. The study concludes that it is imperative for insurance stakeholders in the country to be pro-active and prepare for any future eventuality that could stem up from increased claims ratio that might impacting their profitability, budgets planning, cash flows, and capital requirements. The study recommends that insurance companies should evaluate their assets impairment to be ensure if there has been a significant decline in the fair value of the investment below its cost or loss event that could affect their future cash flow.
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Humanities |
| Depositing User: | Unnamed user with email [email protected] |
| Date Deposited: | 28 May 2021 08:30 |
| Last Modified: | 28 May 2021 08:30 |
| URI: | http://eprints.federalpolyilaro.edu.ng/id/eprint/1339 |
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