Lesson Notes By Weeks and Term - Senior Secondary 3

Insurance associations - NIA

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Term – 1st Term

Week: 1

Class: Senior Secondary School 3

Age: 17 years

Duration: 40 minutes of 2 periods each

Date:       

Subject:      Insurance

Topic:-       Insurance Associations-NIA

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

  1. Define insurance associations
  2. Discuss the roles of the NIA
  3. Highlight the membership of the NIA

INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

PRESENTATION

TEACHER’S ACTIVITY

STUDENT’S ACTIVITY

STEP 1

INTRODUCTION

The teacher reviews the previous lesson on insurance broker

Students pay attention

STEP 2

EXPLANATION

He defines insurance associations

He further discusses the roles of the NIA

 

 

Students pay attention and participates

STEP 3

DEMONSTRATION

He highlights the membership of the NIA

Students pay attention and participate

STEP 4

NOTE TAKING

The teacher writes a summarized note on the board

The students copy the note in their books

 

NOTE

INSURANCE ASSOCIATIONS

Insurance industry in Nigeria cannot exist in isolation. It has to exist within the framework of the economy, and there is need for regulation of the practice of insurance in any economy.

The objective of insurance associations in Nigeria is to complement the efforts of the government in upholding the operational standard within the insurance market.

The insurance association in Nigeria are:

a.) Nigeria Insurance Association (NIA).

b.) Nigeria Council of Registered Insurance Brokers (NCRIB).

c.) Institute of Loss Adjusters of Nigeria.

d.) Chartered Insurance Institute of Nigeria.

e.) National Insurance Commission.

 

NIGERIA INSURERS ASSOCIATION (NIA).

This is the central professional body of registered insurance companies in Nigeria. It was formed in 1971 with the following roles:

  1. To liaise with the government on issues affecting insurance business in Nigeria especially as it relates to their members.
  2. To guide their members in complying with all of the laws regulating insurance business in Nigeria.
  3. To create better understanding of insurance by all sections of the community.
  4. To support or co-operate with other associations or similar bodies with regards to the matter of mutual interest.
  5. To collect, collate, and disseminate statistical information relating to insurance.
  6. To prescribe and enforce self-regulation and code of ethics.
  7. To perform functions of industrial relations on behalf of their members.

MEMBERSHIP OF NIA

The following technical committee function under the umbrella of this association:

i.) Marine offices committee.

ii.) Life offices committee.

iii.) Accident offices committee.

iv.) Fire offices committee.

v.) Legal committee.

vi.) Accounting technical committee.

vii.) Complete technical committee

These committees are responsible for advising the governing council of the association on technical and professional matters relating to their various fields.

EVALUATION:    1. Define insurance associations

  1. State four roles of the NIA
  2. Highlight the membership of the NIA

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively