International records / OpenAlex research

OPERATIONAL RISK MANAGEMENT IN NIGERIAN INSURANCE INDUSTRY – AN ASSESSMENT

The focus of the paper was to explore current practices of operational risk management in the Nigerian Insurance Industry. This is important due to the surprising burst of financial issues that have caused significant operational losses in recent times and the call by the regulatory body towards risk-based supervision. Sample population was the insurance companies in Nigeria. Stratified sampling was utilized in selecting the sample size. The author empirically examines this by use of descriptive statistics such as means and standard deviations. The results confirmed the fact that insurance com…