Protection against a catastrophic loss

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Reference no: EM132945202

TAKAFUL COURSE*CASE 1

Retakaful can be used by a takaful operator to solve several problems. Assume you are a consultant in this field who is asked to give recommendations concerning the type of retakaful plan or arrangement to use. For each of the following situations, indicate the type of retakaful plan or arrangement that the ceding takaful/insurer should use, and explain the reasons for your answer.

a. Company A is an established takaful company and is primarily interested in having protection against a catastrophic loss arising out of a single occurrence.

b. Company B is a rapidly growing new company and desires a plan of retakaful that will reduce the drain on its surplus because of the expense of writing a large volume of new business.

c. Company C has received an application to write a RM10 million family takaful policy on the life of the chief executive officer of a major corporation. Before the policy is issued, the underwriter wants to make certain that adequate retakaful is available.

Reference no: EM132945202

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