underwriting-and-managing-risks-in-takaful

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Contractual Relationship BetweenTakaful Company and Retakaful• It is again based on wakalah bi ajr (agency withfee/hire on services) contract. But theparticpants are the takaful operators on behalfof the participants• Collection of premium from takaful operators,investment of funds, maintenance andreimbursement of reserves when they are notneeded, handling the risk and settlement ofclaims of the takaful operators22
Model of Retakaful:• Essentially about handling risk (takafuloperators) by sharing the risk with theretakaful company.• In principle, its operation is similar to thatof takaful .• Therefore, all Shari’a principles applying totakaful must apply to retakaful operations23
Page 1 and 2: UNDERWRITING ANDMANAGING RISKS INTA
Page 4 and 5: intro• Insurance underwriters eva
Page 6: Adopting conventional Insuranceprin
Page 10 and 11: Cont’.. Rejected RisksRisks on pr
Page 12 and 13: Cont’ Risks of mixedactivities Th
Page 14 and 15: Third CriterionThe primary activity
Page 16 and 17: The Importance of Retakaful inTakaf
Page 18 and 19: TYPES OF TREATY RETAKAFULTreatya) P
Page 20 and 21: ) Non- proportional• Excess of lo
Page 24 and 25: Retakaful or reinsurance?• Sec. 2
Page 26 and 27: Cont.. Retakaful or Reinsurance•
Page 28 and 29: Can Retakaful underwriteconventiona

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