Understanding Takaful Flashcards

Takaful

1
Q

Insurance Principles Applied in Takaful

A

Ada 7: Insurable interest, utmost good faith, indemnity, subrogation, contribution, loss minimization, proximate cause.

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2
Q

Insureable interest

A

object of interest, suffer some financial loss, ownership exists to reduce risk, not to promote gambling

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3
Q

insurable interest must exist when the policy is

A

issued and at the time of loss

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4
Q
A
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