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Chapter Nine: Insurance Surplus in Islamic Takaful Companies - Coggle…
Chapter Nine: Insurance Surplus in Islamic Takaful Companies
The Concept of Insurance Surplus
the remaining amount of money in the insured parties' account after deducting various expenses and payments
Criteria for The Distribution of Insurance Surplus
distribute the surplus to all policyholders
distribute the surplus only to policyholders who have not received any compensation,
differentiate between policyholders who received more compensation than their premiums and those who received less
a fixed percentage of the insurance surplus is distributed among policyholders
the injured policyholders who received compensation receive half the amount given to non-injured policyholders
Factors Which Influence Insurance Surplus
. Company administration's experience in lawful Islamic investments and their ability to choose successful investments.
Amount of money available from premiums assigned for investment
. Amount of compensation paid to injured policyholders
Insurance premiums and the number of subscribers
Experience and activity of the marketing department
Reinsurance arrangements and the company's experience
Amount of fixed fees charged by the agency
Expenses incurred by the cooperative insurance fund
Formation of technical reserves
. Behavior of policyholders
Applicable Form for the Distribution of Insurance Surplus in The Islamic Insurance Company - Jordan
General Principles of the Islamic Insurance Company
Second : Components of The Insurance Surplus
Third : Method of Distributing Insurance Surplus