ABSTRACT: Our risk exposures are influenced by our economy, lifestyles, physical well being, occupation, environment e.t.c, there variables are dynamic therefore risk managers and analyst must be dynamic in their choice of tools to mange risk exposures. In their choice of tools to manage risk exposures. in this project all the knowledge that might be useful to risk managers, however have been presented in the most important process and readable way. Consequently, this project have been organized in to five chapters.
Chapter 1 emphasizes on the introduction, background of study, statement of problems, and benefits of the study.
Chapter 2 emphasizes on the literature review risk management alternatives, risk analysis past and present accidents in the aviation industry.
Chapter 3 emphasizes on the research methodology, primary and secondary data and research design.
Chapters 4 and 5 emphasize on the data presentation and personal interview with the DMD of Slok Airlines and the summary of the major findings, conclusion and recommendations.
This research is written in the partial fulfillment of the requirement for the award of the ordinary National Diploma {OND} in Insurance.
Institute Of Management and Technology,
Enugu.
TABLE OF CONTENTS
CHAPTER ONE
Introduction 1
1.1 Background of the study 1
1.2 Statement of the problems 5
1.3 Objective of the study 6
1.4 Benefit of the study 6
1.5 Limitation 9
1.6 Reference 10
CHAPTER TWO
2.1 Review of related literature 11
2.2 Types of risk and insurance risks 16
2.3 Risk management alternatives 19
2.4 Risk management process 21
2.5 Risk analysis 21
2.6 Alkhile diagram on risk management process 23
2.7 Alkhile diagram on risk analysis 24
2.8 Nigeria civil aviation authority 24
2.9 Past and present accidents in the aviation industry in
Nigeria 25
CHAPTER THREE
Research methodology 27
3.1 Source of data 27
3.2 Primary data 27
3.3 Secondary data 27
3.4 Research design 28
CHAPTER FOUR
4.1 Data presentation and analysis 29
4.2 Personal interview with a staff of one airline 29
CHAPTER FIVE
5.1 Summary of major finding 33
5.2 Conclusion 34
5.3 Recommendation 35
5.4 Area for further research 36
Bibliography 37
CHAPTER ONE
Risk has deigned the various ways. This is because risk is not only the centre of insurance but also inseparable from life . risk in at the centre of life itself, and as a result many people in different walks of life are concemed with it. The educationist, the economist, doctors, psychologist , businessmen engineers, politicians etc. are all interested in the concept of risk.
Briefly, we can degine risk as the “possibilities of an unformatte occurrence” or “ as the chance of loss, this dgintion is not authontatine in the sense as a found to the study of insurance them degenton satisfies an requirement.
In insurance, risk is generally referred to in a some what pessimistic sense in that insners have in their mind the possibilities is capable of caring a misfortune or damage leading to an economic loss. According to the insures, everybody is exposed to risk but some people are exposed to greater risk than others as a result of their.
PHYSICAL FITNESS: The physical nature of a man or an object can facilitations its risk exposure for instance, an old dilapidated aircraft machine is more likely to cause a plane crash than a newly imported one.
OCCUPATION: This is another variable that can increase ones exposure to risk or penil. For instance, a coal miner in risk or peril. For i
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