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Record Nr. |
UNINA9910461874103321 |
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Titolo |
Takaful and mutual insurance [[electronic resource] ] : alternative approaches to managing risks / / edited by Serap O. Gönülal |
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Pubbl/distr/stampa |
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Washington, D.C., : World Bank, 2012 |
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ISBN |
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1-283-75438-X |
0-8213-9725-7 |
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Descrizione fisica |
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1 online resource (226 p.) |
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Collana |
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Directions in development. Finance |
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Altri autori (Persone) |
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Disciplina |
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Soggetti |
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Insurance - Islamic countries |
Insurance |
Electronic books. |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Nota di contenuto |
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Cover; Contents; Foreword; Acknowledgments; About the Authors; Abbreviations; Overview; Chapter 1 Introduction; References; Chapter 2 The Primary Insurance Models; What Are the Differences between Stock Insurance Companies and Mutuals?; Tables; 2.1 Principal Differences between Stock Companies and Mutual Companies; Is Takaful a Mutual?; Allocation of Risks; Other Differences; Growing Pains; Conclusion; 2.2 Allocation of Risk, by Type of Operation; Reference; Chapter 3 Overview of Mutual Structures; 3.1 Mutual Market Share, by Region, 2008-09 |
Mutual Market Share in the 10 Largest Insurance Markets 3.2 Mutual-Cooperative Market Share and Growth in Premiums, by Region, 2007-09; 3.3 Mutual-Cooperative Market Share in 10 Largest Insurance Markets, 2008-09; Cooperative and Mutual Structures; Box; 3.1 Seven Principles of Cooperatives; The Prospects for Cooperative and Mutual Insurers; Lessons for Takaful from Mutual Structures; Folksam; The MACIF Group; Notes; References; Chapter 4 Faith-Based Risk-Sharing Structures; Faith-Based Insurance; Christian Health-Sharing Arrangements; Figures; 4.1 Process for Samaritan Ministries |
Christian Associations Christian Mutual Insurers; Jewish Insurance; Using the Experience of Other Faith-Based Insurance to Address Current Challenges in Takaful; Notes; References; Chapter 5 Hybrid Insurance Structures: Reciprocals, Hybrid Mutual Insurers, and Takaful; |
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Discretionary or Hybrid Mutuals; Takaful; Takaful Models; 5.1 The Mudharaba Model; 5.2 The Wakala Model; 5.3 The Wakala with Mudharaba on Investment Profit Model; Conclusion; Notes; References; Chapter 6 Trade-offs in Takaful; Variation in Approaches; Innovation and the Role of Regulations; Mutual Insurer: Lessons for Takaful |
Conclusion Note; References; Chapter 7 Principal-Agent Issues in Takaful; Retakaful; 7.1 Organizational Structure of Takaful; Chapter 8 Investments in Takaful; Investment Needs of Takaful; Types of Investments in Takaful; 8.1 Amount of Sukuks Outstanding in Malaysia, by Type of Instrument, 2011; 8.2 Contracts Used in Malaysia, 2011; 8.3 Islamic Fixed Deposits in Malaysia, by Type of Deposit, December 2010; Risk-Based Capital, Investment Strategy, and Product Design; Conclusion; References; Chapter 9 Challenges for Takaful Going Forward; Implications of the Takaful Model Adopted; Expense Risk |
Underwriting Risk 9.1 Five-Year Underwriting Experience of a Takaful Fund; 9.2 Underwriting Surplus Shared Equally; Investment and Investment Profits; Operational Risks; Risk-Based Capital; 9.1 Risks, by Type of Takaful Contract; Product Structure Issues; Corporate Governance and Regulation; Lack of Suitable Investment; Marketing and Distribution Channel; Customer Loyalty; Conclusion; Reference; Chapter 10 Oversight in Takaful; The Proposition: Why Takaful?; Takaful-Friendly Environment; Why the Need to Regulate?; Regulate at the Source; Levels of Governance |
Does Takaful Require Solvency Standards? |
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Sommario/riassunto |
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Takaful, which means 'cooperative', is an insurance approach that is instrumental to providing insurance services to Muslims and others with religious objections to aspects of conventional commercial insurance models, specifically interest payments, uncertainty, or gambling kind of transactions. |
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