Insurance as Risk Management Tool

Duration 06m 30s

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Last Update 21 Dec 2021

In this module, we will cover the main purpose and importance of insurance protection while comparing it with takaful, and also discuss the main strategies for handling risk.

Takaful

Code: PG57787

SECTION 1

Takaful - Risk and Risk Mitigation? 11m 45s

Overview Preview Key Components of Risk Terms Commonly Associated with Risk Loss Types of Losses Peril Types of Peril Hazard Types of Hazards Risk from an Islamic Perspective Types of Risk Business & Financial Risk Pure Risk Speculative Risk Types of Pure Risk How Can We Mitigate Risk?

SECTION 2

Takaful Concept 07m 08s

Introduction and Definition of Takaful Preview Concept of Takaful Historical Development of Takaful `Aqila Evolution of Takaful Development of Shariah Rulings in Takaful

SECTION 3

Insurance as Risk Management Tool 06m 30s

Introduction Preview Insurance Transaction Hallmarks Comparing Takaful to Insurance Key Elements of Takaful What is Risk Management?

SECTION 4

Underlying Shariah Contracts in Takaful 08m 01s

Introduction Preview Relationship Between Takaful Participants Underlying Shariah Concepts for Takaful Participants Underlying Shariah Contracts for Takaful Participants & Operators Mudarabah Contract Wakalah Contract Ju'alah Contract Waqf Contract

SECTION 5

Why Conventional Insurance is not Shariah Compliant 05m 51s

Introduction Preview Present Approach in Risk Mitigation Riba Gharar Maysir

SECTION 6

Business Models of Takaful 09m 56s

Introduction Preview Mudarabah Model Diagram - Mudarabah Model Wakalah Model Diagram - Wakalah Model Hybrid of Wakalah & Mudarabah Diagram - Hybrid of Wakalah & Mudarabah Hybrid of Wakalah & Waqf Diagram - Hybrid of Wakalah & Waqf

SECTION 7

Takaful Stakeholders 07m 57s

Introduction Preview Who are the Takaful Stakeholders? Takaful Operators Participants Five Conditions a Participant Must Fulfil Nominees Beneficiaries

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Insurance as Risk Management Tool

Insurance as Risk Management Tool

Insurance as Risk Management Tool

Takaful