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.
2
Q
Insureable interest
A
object of interest, suffer some financial loss, ownership exists to reduce risk, not to promote gambling
3
Q
insurable interest must exist when the policy is
A
issued and at the time of loss
4
Q
A