What are the contributions of insurance to Kenya's economic development?

Answer 1

The role of insurance companies in Nigeria can never be over emphasized, it is the pillar of every successful business. The insurance companies have given Nigerians the faith to invest in business without fear of losing out.

Most financial institution may not want to loan to individuals without them endorsing an insurance policy.

The advent of insurance companies in Nigeria has greatly improved the development of the country in the area of finance, individual business and public welfare.

Answer 2

it ensures continuity of a business,eliminates element of uncertainity in a business from the minds of the investors,encourages the development of commercial and industrial enterprise,eliminates the need to keep huge reserves of money by business firms,spreads risk of financial loss to many traders.these all ensure that money is fully utilised in the economy leading to its growth.

Answer 3

The roles of insurance in economic development of nigeria