Chapter 5
•Download as PPT, PDF•
4 likes•2,568 views
The document discusses the regulation and supervision of the insurance industry in three paragraphs: 1. The insurance industry is regulated to protect consumers due to the nature of insurance contracts and the need for insurer integrity and stability. Regulations aim to ensure eight basic consumer rights and prevent issues like unfair claims settlement. 2. Regulations aim to promote healthy competition, provide some consumer protection, and foster competency and professionalism within the industry. This is achieved through licensing insurers, brokers and adjusters and oversight by regulatory bodies. 3. The Insurance Act establishes rules for insurers, including requiring separate licensing for life and general insurance, approval for certain investment-linked products, and membership in industry associations. Regulations aim to protect the
Report
Share
Report
Share
Recommended
5 non-bank financial intermediaries
Non-bank financial intermediaries in Malaysia include development financial institutions, saving institutions, employee provident and pension funds, insurance companies, and other financial intermediaries such as factoring companies. Development financial institutions provide medium and long-term financing for projects in specific sectors to promote development goals. Saving institutions such as the National Savings Bank mobilize savings from middle and lower income groups. Employee provident funds such as the Employees Provident Fund provide retirement benefits and help mobilize long-term savings.
Takaful and Insurance underwriting
The document provides an overview of the underwriting process. It defines underwriting as evaluating risks to determine whether to provide insurance coverage. An underwriter's role is to evaluate applications, accept or decline risks, and determine contribution amounts. Sound underwriting is important for the success of the Takaful operator and equitable treatment of participants. The underwriting process involves establishing files, evaluating factors specific to the type of coverage, determining rates, and setting policy terms. Underwriters make decisions on whether to reject risks, issue substandard policies, standard policies, or preferred policies. They also monitor policies ongoing. Agents play an important role by gathering information to assist underwriters.
Chapter 5 Risk Management and Takaful Planning
This document discusses Islamic financial planning and takaful (Islamic insurance). It begins by defining takaful and explaining how it differs from conventional insurance by being based on mutual assistance and contribution to a common fund. The document outlines the key concepts of tabarru' (donation) and mudharabah (profit-sharing) business models used by takaful operators. It then discusses how to determine the appropriate amount of takaful coverage needed based on a family's monthly expenses and existing financial resources. The document provides approaches like using a multiple of one's salary or assessing actual needs to estimate a maintenance fund size. It emphasizes the importance of choosing a takaful policy that matches one's specific needs and objectives
Pb601 Bursa Malaysia and Security commission of malaysia
Bursa Malaysia is the stock exchange of Malaysia that was established in 1964 and was previously known as the Kuala Lumpur Stock Exchange. It provides information to investors and acts to improve the economy and pave the way for individual investors. The Security Commission of Malaysia is the statutory body responsible for regulating and developing Malaysia's capital markets, established in 1993 under the Security Commission Act. It regulates takeovers and mergers, unit trusts, licenses financial professionals, and approves corporate bond issues and prospectuses.
Insuran
Loss adjusters investigate, assess, and estimate insurance claims on behalf of insurance companies. They are independent professionals licensed by the Insurance Regulator and must be members of the Association of Malaysian Loss Adjusters (AMLA). Loss adjusters duties include investigating losses, determining coverage, inspecting damage, documenting findings, and providing estimates to insurance companies. The AMLA was established in 1981 and regulates loss adjusters approved under the Insurance Act of 1963.
Chapter 7 Estate Planning
1) Estate planning involves determining how to distribute one's assets after death through various legal means like a will, gifts during life, or intestacy laws.
2) Developing a sound estate plan involves ascertaining one's assets, determining how to distribute them among beneficiaries, and choosing appropriate legal methods like wills or trusts.
3) Strategies for effective estate planning include protecting asset value, maximizing amounts to heirs, minimizing costs and inconvenience, appointing capable executors, and naming guardians for minor beneficiaries.
application of fund (al-mudarabah)
1) Mudarabah is a partnership agreement where one party provides capital while the other provides labor and management skills, with profits shared between the parties according to a predetermined ratio.
2) In mudarabah, the capital provider is called rabb-ul-maal and the manager is called the mudarib. The mudarib manages the business while the rabb-ul-maal does not interfere.
3) Mudarabah can be used by Islamic banks for investment purposes and financing projects, businesses, and private equity through profit-sharing with entrepreneurs. Deposits from customers to banks are treated as rabb-ul-maal funds to be invested by the bank as mudarib.
TAKAFUL (ISLAMIC INSURANCE) vs CONVENTIONAL INSURANCE
Takaful is an Islamic insurance alternative that is based on principles of mutual cooperation and responsibility. It provides a way for Muslims to protect against risks in accordance with Sharia law. Takaful operates through pools funded by contributions from policyholders. Any surpluses are distributed among members, while deficits are covered by a special reserve without interest. Takaful structures use agency or partnership contracts to manage funds and ensure operations comply with Islamic laws and avoid interest, gambling, and uncertainty.
Recommended
5 non-bank financial intermediaries
Non-bank financial intermediaries in Malaysia include development financial institutions, saving institutions, employee provident and pension funds, insurance companies, and other financial intermediaries such as factoring companies. Development financial institutions provide medium and long-term financing for projects in specific sectors to promote development goals. Saving institutions such as the National Savings Bank mobilize savings from middle and lower income groups. Employee provident funds such as the Employees Provident Fund provide retirement benefits and help mobilize long-term savings.
Takaful and Insurance underwriting
The document provides an overview of the underwriting process. It defines underwriting as evaluating risks to determine whether to provide insurance coverage. An underwriter's role is to evaluate applications, accept or decline risks, and determine contribution amounts. Sound underwriting is important for the success of the Takaful operator and equitable treatment of participants. The underwriting process involves establishing files, evaluating factors specific to the type of coverage, determining rates, and setting policy terms. Underwriters make decisions on whether to reject risks, issue substandard policies, standard policies, or preferred policies. They also monitor policies ongoing. Agents play an important role by gathering information to assist underwriters.
Chapter 5 Risk Management and Takaful Planning
This document discusses Islamic financial planning and takaful (Islamic insurance). It begins by defining takaful and explaining how it differs from conventional insurance by being based on mutual assistance and contribution to a common fund. The document outlines the key concepts of tabarru' (donation) and mudharabah (profit-sharing) business models used by takaful operators. It then discusses how to determine the appropriate amount of takaful coverage needed based on a family's monthly expenses and existing financial resources. The document provides approaches like using a multiple of one's salary or assessing actual needs to estimate a maintenance fund size. It emphasizes the importance of choosing a takaful policy that matches one's specific needs and objectives
Pb601 Bursa Malaysia and Security commission of malaysia
Bursa Malaysia is the stock exchange of Malaysia that was established in 1964 and was previously known as the Kuala Lumpur Stock Exchange. It provides information to investors and acts to improve the economy and pave the way for individual investors. The Security Commission of Malaysia is the statutory body responsible for regulating and developing Malaysia's capital markets, established in 1993 under the Security Commission Act. It regulates takeovers and mergers, unit trusts, licenses financial professionals, and approves corporate bond issues and prospectuses.
Insuran
Loss adjusters investigate, assess, and estimate insurance claims on behalf of insurance companies. They are independent professionals licensed by the Insurance Regulator and must be members of the Association of Malaysian Loss Adjusters (AMLA). Loss adjusters duties include investigating losses, determining coverage, inspecting damage, documenting findings, and providing estimates to insurance companies. The AMLA was established in 1981 and regulates loss adjusters approved under the Insurance Act of 1963.
Chapter 7 Estate Planning
1) Estate planning involves determining how to distribute one's assets after death through various legal means like a will, gifts during life, or intestacy laws.
2) Developing a sound estate plan involves ascertaining one's assets, determining how to distribute them among beneficiaries, and choosing appropriate legal methods like wills or trusts.
3) Strategies for effective estate planning include protecting asset value, maximizing amounts to heirs, minimizing costs and inconvenience, appointing capable executors, and naming guardians for minor beneficiaries.
application of fund (al-mudarabah)
1) Mudarabah is a partnership agreement where one party provides capital while the other provides labor and management skills, with profits shared between the parties according to a predetermined ratio.
2) In mudarabah, the capital provider is called rabb-ul-maal and the manager is called the mudarib. The mudarib manages the business while the rabb-ul-maal does not interfere.
3) Mudarabah can be used by Islamic banks for investment purposes and financing projects, businesses, and private equity through profit-sharing with entrepreneurs. Deposits from customers to banks are treated as rabb-ul-maal funds to be invested by the bank as mudarib.
TAKAFUL (ISLAMIC INSURANCE) vs CONVENTIONAL INSURANCE
Takaful is an Islamic insurance alternative that is based on principles of mutual cooperation and responsibility. It provides a way for Muslims to protect against risks in accordance with Sharia law. Takaful operates through pools funded by contributions from policyholders. Any surpluses are distributed among members, while deficits are covered by a special reserve without interest. Takaful structures use agency or partnership contracts to manage funds and ensure operations comply with Islamic laws and avoid interest, gambling, and uncertainty.
Risk financing
This document discusses various techniques for corporate risk financing, including risk transfer through commercial insurance, risk retention using internal funds, and hybrid techniques combining internal and external sources. It provides details on commercial insurance mechanisms and objectives. Key risk financing techniques include insurance, self-insurance through loss reserves, and captive insurance companies owned by an organization to insure its own risks. Choosing an approach involves considering expected losses, financing costs, control, and other factors to select the most cost-effective option.
Chap 7 -_insurance_documents
This document discusses various insurance documents and forms used in the insurance process. It describes the purpose and contents of key documents like proposal forms, cover notes, certificates of insurance, policy forms, endorsements, renewal notices, claim forms, and discharge letters. Proposal forms are used to gather risk information and form the basis of the insurance contract. Cover notes provide temporary coverage until the full policy is issued. Policy forms contain the terms and conditions of the insurance agreement. Endorsements are used to modify policy terms, and discharge letters confirm that claims have been fully settled.
Risk Mitigation in Islamic Banking
This document discusses various techniques for mitigating risk in Islamic banking. It begins by explaining how Islamic finance prohibits separating ownership from risk like conventional interest-based loans. It then discusses several key risks like credit risk and how Islamic banks estimate expected losses. It provides details on techniques for mitigating different types of risk, including using loan loss reserves, collateral, contracts, partnerships, murabahah structures, salam, parallel salam and sukuk structures. The goal is to encourage risk sharing over risk transferring in accordance with Islamic principles.
risk management
This document discusses risk management and insurance. It defines risk management as identifying, measuring, and controlling risks that threaten assets and earnings. The objectives of risk management are to help organizations progress toward goals efficiently. Risk management involves identifying potential losses, evaluating their likelihood and impact, examining risk management techniques, implementing a program, and monitoring it. Techniques include risk control methods like avoidance, prevention, and transfer, as well as risk financing methods like retention, self-insurance, and insurance. The overall process is to select and implement the most cost-effective risk management program.
Bay Bithaman Ajil - Housing Financing
This slide shows the content of Bay Bithaman Ajil (BBA) regarding Alliance Islamic Bank. General content about housing financing under BBA.
Insurance vs Takaful
Takaful is an Islamic insurance system based on mutual assistance and donation. It involves participants voluntarily contributing to a collective fund to guarantee each other against losses. If a participant suffers a loss, they receive money from the fund to help cover costs. Any surplus contributions are shared among participants according to a Mudarabah agreement. Takaful aims to help those in need without involving interest, gambling or other prohibited elements unlike conventional insurance.
chapter 6 islamic banking 2
The document discusses various Islamic financial instruments used in Malaysia. It describes instruments like Mudharabah, Musharakah, Murabahah, Ijarah, and Wakalah. It explains how these instruments work, including the rights and responsibilities of parties in each contract. Shariah committees provide oversight to ensure Islamic banks operate according to Shariah principles.
Lecture 10
This document discusses investment in securities. It begins by introducing securities and how they are traded in capital markets. There are two main types of securities - equity instruments and debt instruments, with hybrids having characteristics of both. Equity represents ownership while debt represents borrowing with a fixed maturity. Common stocks are the most common equity instrument, providing residual ownership, while bonds are the most common debt instrument with fixed interest payments. The document then discusses various equity-related concepts like initial public offerings, stock screening for Shariah compliance, and the components of an Islamic equities market.
Chapter 5
This document outlines the scope and content for Chapter 5 of an audit course. It covers understanding audit reports, the types of reports including unmodified and modified, and the elements and situations that result in each type of report. It also discusses the auditor's responsibilities, including maintaining professional skepticism and ensuring financial statements are free from material misstatement. The types of audits are defined as external, internal, and compliance audits.
Credit Risk Management
This document discusses various types of risks faced in investment and banking. It defines risk management as identification, analysis and mitigation of uncertainties. It then lists different types of risks like interest rate risk, market risk, inflation risk, etc. It also discusses the responsibilities of board and senior management in risk management and outlines the components of an effective risk management process including organizational structure, systems and procedures.
Financial System In Malaysia
The banking system in Malaysia consists primarily of commercial banks and is regulated by Bank Negara Malaysia (BNM), the central bank. BNM is responsible for monetary policy and the supervision of financial institutions. Commercial banks accept deposits and offer loans. Investment/merchant banks specialize in areas like corporate finance and advisory services. Islamic banks provide sharia-compliant banking services. Labuan International Business and Financial Centre (IBFC) and International Currency Business Units (ICBU) allow qualified entities to conduct financial activities in foreign currencies. Non-bank financial institutions include provident and pension funds, insurance companies, pawnshops and development finance institutions that support strategic sectors.
Financial Analysis on Maybank and CIMB (Bank Management)
This document provides an analysis of the financial performance of Maybank and CIMB from 2010-2014. Key metrics analyzed include liquidity, profitability, financial leverage, and asset quality. For liquidity, the analysis found that Maybank's current ratio increased from 2010-2014 while CIMB's decreased, indicating weaker liquidity. For profitability, ratios for both banks fluctuated over the period. Maybank generally had higher ratios except for earnings to assets in 2012. The analysis found CIMB had higher financial leverage than Maybank based on debt to equity ratios, though both lowered leverage in 2014. In terms of asset quality, Maybank's non-performing loan ratio was stable at 1% while CIM
chapter 4 finance companies and investment banks
Finance companies and investment banks play important roles in Malaysia's financial system. Finance companies are defined as institutions that provide lending and leasing services. They are the second largest deposit-taking institutions and are regulated by guidelines on reserves and lending. Investment banks help companies raise funds through public offerings, provide advisory services for mergers and acquisitions, and facilitate trading of securities. Both finance companies and investment banks expand access to credit and investment opportunities.
Re takaful - A Reality Check
Re-Takaful provides risk sharing mechanisms for Takaful operators to limit liability on specific risks and increase capacity. It operates similarly to conventional reinsurance but without interest or excessive uncertainty, instead relying on actual expenses and risk sharing. Re-Takaful helps stabilize Takaful business by limiting losses that could overwhelm operators. However, the industry faces challenges in capacity, ratings, expertise, and standardization that must be addressed to effectively compete.
Hire Purchase Act (Business Law)
The document summarizes key aspects of Malaysia's Hire Purchase Act of 1967, which governs hire purchase transactions. It defines hire purchase, outlines the parties involved and their roles, discusses formation and contents requirements for hire purchase agreements, statutory rights and obligations of hirers and owners, and repossession by owners. Case examples are provided to illustrate application of the Act in Malaysian courts. The Act aims to protect consumers and standardize practices in the hire purchase industry.
Operational Risk
Operational risk in Islamic finance can arise from a variety of sources. The document identifies six main categories of operational risk: 1) Shariah non-compliance risk, 2) people risk, 3) technology risk, 4) fiduciary risk, 5) legal risk, and 6) reputational risk. It also discusses the nature of operational risks as either internally or externally inflicted, the impacts as direct or indirect, and the degree of expectancy as expected or unexpected losses. Proper identification and management of operational risks are important for Islamic financial institutions.
Fundamental of Islamic Banking - Overview of Financial System
This document provides an overview of Islamic banking and finance. It begins with defining key concepts in financial systems such as money, credit, and finance. It then describes the structure of Malaysia's financial system and the roles of banks as financial intermediaries. The document outlines the goals and objectives of Islamic banking, and highlights key differences from conventional banking such as the prohibition of riba and emphasis on risk sharing. Some advantages of Islamic banking discussed are justice and fairness, liquidity, and no fixed obligations. The document concludes with challenges facing Islamic banking such as misconceptions, the need for skilled talents, and rising costs for small Islamic banks.
Chapter 6 -_insurance_products
This document discusses various types of insurance products including general insurance, motor insurance, fire insurance, liability insurance, theft insurance, and life assurance. It provides details on the characteristics, coverages, exclusions, and uses of different insurance policies such as term assurance, endowment, whole-life, and annuities. The document aims to explain the key features of both general and life insurance products.
Chap 4 -_insurance_industry (2)
The document outlines the key components and organizations that make up the insurance industry and market in Malaysia. It discusses the roles of various departments within insurance companies and how they may be organized. It also lists and describes several important institutions related to both the general insurance market and life assurance market, including their objectives and functions.
More Related Content
What's hot
Risk financing
This document discusses various techniques for corporate risk financing, including risk transfer through commercial insurance, risk retention using internal funds, and hybrid techniques combining internal and external sources. It provides details on commercial insurance mechanisms and objectives. Key risk financing techniques include insurance, self-insurance through loss reserves, and captive insurance companies owned by an organization to insure its own risks. Choosing an approach involves considering expected losses, financing costs, control, and other factors to select the most cost-effective option.
Chap 7 -_insurance_documents
This document discusses various insurance documents and forms used in the insurance process. It describes the purpose and contents of key documents like proposal forms, cover notes, certificates of insurance, policy forms, endorsements, renewal notices, claim forms, and discharge letters. Proposal forms are used to gather risk information and form the basis of the insurance contract. Cover notes provide temporary coverage until the full policy is issued. Policy forms contain the terms and conditions of the insurance agreement. Endorsements are used to modify policy terms, and discharge letters confirm that claims have been fully settled.
Risk Mitigation in Islamic Banking
This document discusses various techniques for mitigating risk in Islamic banking. It begins by explaining how Islamic finance prohibits separating ownership from risk like conventional interest-based loans. It then discusses several key risks like credit risk and how Islamic banks estimate expected losses. It provides details on techniques for mitigating different types of risk, including using loan loss reserves, collateral, contracts, partnerships, murabahah structures, salam, parallel salam and sukuk structures. The goal is to encourage risk sharing over risk transferring in accordance with Islamic principles.
risk management
This document discusses risk management and insurance. It defines risk management as identifying, measuring, and controlling risks that threaten assets and earnings. The objectives of risk management are to help organizations progress toward goals efficiently. Risk management involves identifying potential losses, evaluating their likelihood and impact, examining risk management techniques, implementing a program, and monitoring it. Techniques include risk control methods like avoidance, prevention, and transfer, as well as risk financing methods like retention, self-insurance, and insurance. The overall process is to select and implement the most cost-effective risk management program.
Bay Bithaman Ajil - Housing Financing
This slide shows the content of Bay Bithaman Ajil (BBA) regarding Alliance Islamic Bank. General content about housing financing under BBA.
Insurance vs Takaful
Takaful is an Islamic insurance system based on mutual assistance and donation. It involves participants voluntarily contributing to a collective fund to guarantee each other against losses. If a participant suffers a loss, they receive money from the fund to help cover costs. Any surplus contributions are shared among participants according to a Mudarabah agreement. Takaful aims to help those in need without involving interest, gambling or other prohibited elements unlike conventional insurance.
chapter 6 islamic banking 2
The document discusses various Islamic financial instruments used in Malaysia. It describes instruments like Mudharabah, Musharakah, Murabahah, Ijarah, and Wakalah. It explains how these instruments work, including the rights and responsibilities of parties in each contract. Shariah committees provide oversight to ensure Islamic banks operate according to Shariah principles.
Lecture 10
This document discusses investment in securities. It begins by introducing securities and how they are traded in capital markets. There are two main types of securities - equity instruments and debt instruments, with hybrids having characteristics of both. Equity represents ownership while debt represents borrowing with a fixed maturity. Common stocks are the most common equity instrument, providing residual ownership, while bonds are the most common debt instrument with fixed interest payments. The document then discusses various equity-related concepts like initial public offerings, stock screening for Shariah compliance, and the components of an Islamic equities market.
Chapter 5
This document outlines the scope and content for Chapter 5 of an audit course. It covers understanding audit reports, the types of reports including unmodified and modified, and the elements and situations that result in each type of report. It also discusses the auditor's responsibilities, including maintaining professional skepticism and ensuring financial statements are free from material misstatement. The types of audits are defined as external, internal, and compliance audits.
Credit Risk Management
This document discusses various types of risks faced in investment and banking. It defines risk management as identification, analysis and mitigation of uncertainties. It then lists different types of risks like interest rate risk, market risk, inflation risk, etc. It also discusses the responsibilities of board and senior management in risk management and outlines the components of an effective risk management process including organizational structure, systems and procedures.
Financial System In Malaysia
The banking system in Malaysia consists primarily of commercial banks and is regulated by Bank Negara Malaysia (BNM), the central bank. BNM is responsible for monetary policy and the supervision of financial institutions. Commercial banks accept deposits and offer loans. Investment/merchant banks specialize in areas like corporate finance and advisory services. Islamic banks provide sharia-compliant banking services. Labuan International Business and Financial Centre (IBFC) and International Currency Business Units (ICBU) allow qualified entities to conduct financial activities in foreign currencies. Non-bank financial institutions include provident and pension funds, insurance companies, pawnshops and development finance institutions that support strategic sectors.
Financial Analysis on Maybank and CIMB (Bank Management)
This document provides an analysis of the financial performance of Maybank and CIMB from 2010-2014. Key metrics analyzed include liquidity, profitability, financial leverage, and asset quality. For liquidity, the analysis found that Maybank's current ratio increased from 2010-2014 while CIMB's decreased, indicating weaker liquidity. For profitability, ratios for both banks fluctuated over the period. Maybank generally had higher ratios except for earnings to assets in 2012. The analysis found CIMB had higher financial leverage than Maybank based on debt to equity ratios, though both lowered leverage in 2014. In terms of asset quality, Maybank's non-performing loan ratio was stable at 1% while CIM
chapter 4 finance companies and investment banks
Finance companies and investment banks play important roles in Malaysia's financial system. Finance companies are defined as institutions that provide lending and leasing services. They are the second largest deposit-taking institutions and are regulated by guidelines on reserves and lending. Investment banks help companies raise funds through public offerings, provide advisory services for mergers and acquisitions, and facilitate trading of securities. Both finance companies and investment banks expand access to credit and investment opportunities.
Re takaful - A Reality Check
Re-Takaful provides risk sharing mechanisms for Takaful operators to limit liability on specific risks and increase capacity. It operates similarly to conventional reinsurance but without interest or excessive uncertainty, instead relying on actual expenses and risk sharing. Re-Takaful helps stabilize Takaful business by limiting losses that could overwhelm operators. However, the industry faces challenges in capacity, ratings, expertise, and standardization that must be addressed to effectively compete.
Hire Purchase Act (Business Law)
The document summarizes key aspects of Malaysia's Hire Purchase Act of 1967, which governs hire purchase transactions. It defines hire purchase, outlines the parties involved and their roles, discusses formation and contents requirements for hire purchase agreements, statutory rights and obligations of hirers and owners, and repossession by owners. Case examples are provided to illustrate application of the Act in Malaysian courts. The Act aims to protect consumers and standardize practices in the hire purchase industry.
Operational Risk
Operational risk in Islamic finance can arise from a variety of sources. The document identifies six main categories of operational risk: 1) Shariah non-compliance risk, 2) people risk, 3) technology risk, 4) fiduciary risk, 5) legal risk, and 6) reputational risk. It also discusses the nature of operational risks as either internally or externally inflicted, the impacts as direct or indirect, and the degree of expectancy as expected or unexpected losses. Proper identification and management of operational risks are important for Islamic financial institutions.
Fundamental of Islamic Banking - Overview of Financial System
This document provides an overview of Islamic banking and finance. It begins with defining key concepts in financial systems such as money, credit, and finance. It then describes the structure of Malaysia's financial system and the roles of banks as financial intermediaries. The document outlines the goals and objectives of Islamic banking, and highlights key differences from conventional banking such as the prohibition of riba and emphasis on risk sharing. Some advantages of Islamic banking discussed are justice and fairness, liquidity, and no fixed obligations. The document concludes with challenges facing Islamic banking such as misconceptions, the need for skilled talents, and rising costs for small Islamic banks.
What's hot (20)
Financial Analysis on Maybank and CIMB (Bank Management)
Financial Analysis on Maybank and CIMB (Bank Management)
Fundamental of Islamic Banking - Overview of Financial System
Fundamental of Islamic Banking - Overview of Financial System
Viewers also liked
Chapter 6 -_insurance_products
This document discusses various types of insurance products including general insurance, motor insurance, fire insurance, liability insurance, theft insurance, and life assurance. It provides details on the characteristics, coverages, exclusions, and uses of different insurance policies such as term assurance, endowment, whole-life, and annuities. The document aims to explain the key features of both general and life insurance products.
Chap 4 -_insurance_industry (2)
The document outlines the key components and organizations that make up the insurance industry and market in Malaysia. It discusses the roles of various departments within insurance companies and how they may be organized. It also lists and describes several important institutions related to both the general insurance market and life assurance market, including their objectives and functions.
Chp 3
The document discusses several key principles of insurance:
- Insurance requires insurable interest to differentiate it from gambling. Insurable interest refers to a legitimate financial stake in the subject matter being insured.
- The insured must disclose all material facts regarding the risk. Undisclosed or misrepresented facts can void the contract.
- Insurance contracts aim to indemnify, or make whole, the insured for losses by restoring them to their pre-loss financial position without providing a payout exceeding losses.
Chp 2
1. The document discusses various concepts related to risk including risk, peril, loss, and hazard. It also describes different ways to measure risk such as priori, empirical, and judgmental probabilities.
2. Risks are categorized as either fundamental or particular, and pure or speculative. Fundamental risks affect large numbers of people while particular risks affect individuals. Pure risks involve the possibility of loss or no loss, while speculative risks involve the possibility of profit, loss, or no loss.
3. The main methods for handling risks are risk avoidance, loss control, risk retention, and risk transfer. Risk avoidance aims to reduce the total amount of loss by preventing or minimizing loss. Loss control involves retaining risks and bearing any
Chap 8 -_underwriting
This document discusses the principles and process of underwriting in insurance. It defines underwriting as assessing and selecting risks to determine premiums, terms, and conditions. The key purposes of underwriting are to guard against applicants with high probability of loss and to charge premiums commensurate with risk. Common underwriting features include identifying hazards, selecting risks, and setting premiums, terms, and conditions accordingly. Risks with abnormal hazards may be accepted with risk improvements, warranties, exclusions, restricted coverage, excesses, or franchises. Premiums are set using individual, class, or merit rates and cover expected claims costs plus expenses.
Chap 4 -_insurance_industry
This document discusses the insurance industry and its components in Malaysia. It describes the key roles and functions of insurance agents, brokers, and various departments within insurance companies, including underwriting, claims, marketing, and actuarial. It also outlines some of the major organizations that regulate and represent different segments of the insurance sector in Malaysia, such as PIAM for general insurers, LIAM for life insurers, and MTA for takaful operators.
Chap 9 -_introduction_to_takaful
Takaful is an Islamic insurance concept based on mutual assistance and cooperation. It involves participants contributing to a common fund, which is used to pay compensation to any participant who suffers losses according to the terms of the Takaful agreement. There are different models for structuring Takaful, such as the Tabarru' model where contributions are seen as donations, or the Mudharabah model where profits from investing contributions are shared. Takaful aims to be free from elements like uncertainty and gambling that are prohibited in Islam. It is overseen by a Sharia Supervisory Council to ensure compliance.
Risk Management and Insurance
This module discusses risk management and insurance. It covers topics such as risks and risk management, different types of risks, methods of handling risks including avoiding, controlling, accepting and transferring risks. It also discusses the basic concepts of insurance including risk pooling, law of large numbers, requirements of insurable risks, advantages and disadvantages of insurance. Additionally, it covers personal risk management process, objectives of risk management pre-loss and post-loss, insurance market dynamics and underwriting cycle. Finally, it discusses some key legal principles of insurance contracts such as offer and acceptance, consideration, insurable interest, subrogation and utmost good faith.
ENGINEERING INSURANCE
The document discusses key aspects of engineering insurance policies, including machinery breakdown insurance. Some key points:
1) Engineering insurance policies provide replacement value coverage and use an excess amount to determine rates and claims payments. Policies require reinstatement of the sum insured after a claim.
2) Claims can be settled on a partial or total loss basis, with depreciation applied differently depending on the type of loss.
3) Average clauses are used to determine proportionate liability when there is underinsurance. Claims require documentation of damage details, replacement values, depreciation, salvage, and excess amounts to determine payouts.
Statutory
This document discusses self-regulation and statutory regulation of the insurance industry. For self-regulation, it outlines advantages like instilling discipline and responding quickly to changes, but disadvantages are that voluntary codes do not have the force of law and view consumer needs from the industry perspective. Statutory regulation is needed because insurance is a complex, intangible product sold in the public interest. Laws like the Insurance Act 1996 set broad standards while regulations specify requirements in areas like financial reporting and solvency.
Kurnia
Kurnia Asia Berhad was incorporated in Malaysia in 2001 and is the holding company for Kurnia Insurans (Malaysia) Berhad, the largest general insurer in Malaysia. Kurnia Insurans was incorporated in 1978 and has grown to become one of the most successful general insurers in the country, offering products like motor, medical, personal accident, and home insurance. Kurnia Asia aims to be a leading financial services group in ASEAN through its vision, mission, and values of knowledge, unity, nobility, resourcefulness, innovativeness, and ability.
Malaysia's general insurance : summary
The document provides an overview of Malaysia's financial system and general insurance industry. It discusses the key regulatory bodies that oversee the financial system and categories financial institutions. It then summarizes the different segments of Malaysia's general insurance market, including motor, marine/aviation/transit (MAT), fire, medical/personal accident, and others. The motor segment is the largest, followed by fire. The document forecasts continued growth across all segments through 2018, especially in medical/personal accident, driven by factors like increasing travel and regulatory requirements for foreign worker insurance.
ABC of Engineering Insurance through 3Ws
The document discusses various types of engineering insurance policies through the 3Ws framework - what the policy is, who can take the policy, and areas to be careful of. It covers boiler and pressure plant insurance, machinery insurance, electronic equipment insurance, machinery loss of profits insurance, and contractor's plant and equipment insurance. For each policy, it provides details on coverage, eligibility, documentation needs, and factors like sum insured amounts. The document aims to educate about different engineering insurance options available.
Machinery Breakdown Insurance
The document discusses machinery breakdown insurance. It provides details on common causes of machinery breakdown, what losses are covered, exclusions from coverage, requirements for filing a claim, and industries that commonly purchase this type of insurance. It aims to explain the benefits of machinery breakdown insurance for protecting against sudden and accidental physical damage to equipment.
Meeting w13 chapter 4 part 3
This document discusses various process control measurement techniques and final control elements. It describes common methods for measuring temperature, level, pressure, flow, and chemical analysis including thermocouples, RTDs, float systems, differential pressure, capacitive devices, ultrasonics, turbines, electromagnetic and Coriolis flow meters. Final control elements convert control signals into actions on process variables through signal conversion, actuators and control elements like valves.
Engineering insurance
The Presentation on Engineering Insurance help us knowing more about the different types of Insurance Policies for various types of engineering projects as there are different types of product available under engineering insurance and referring this presentation will let you know about engineering insurance.
Pressure regulator valves for industrial process control
Cash Valve provides highly engineered pressure regulating and back pressure valves along with cost effective custom packages for OEM engineered applications for industrial and commercial customers who require mechanical control of pressure.
Cash Valve provides product from cryogenic through high temperature for Steam, Air, Gas, and Liquid applications meeting tight shut-off and extended service life. Cash Valve provides code certifications that meet various global standards such as PED, TPED, and Chinese as well as non-code requirements.
Final Control Element
Final control elements are devices like valves and pumps that adjust the manipulated variable to control process parameters. Common parameters include pressure, flow, level, and temperature. Control valves have components like actuators, bodies, and trim. Actuators provide the force and include pneumatic, hydraulic, and electric types. Valves types are ball, butterfly, gate, and globe valves. Positioners maintain the correct valve position. Control valves can experience issues like leaks, sticking, or nonlinear flow. Troubleshooting addresses problems like deadband, overshoot, sizing errors, and nonlinear characteristics.
Innovative insurance products
The document discusses various innovative insurance products including insuring Lata Mangeshkar's voice, Vijender Singh's hands, Shane Warne's middle finger, and David Beckham's entire body. It also proposes new types of insurance like home maker insurance to insure the primary caretaker, family health insurance to cover an entire family with one policy, pet insurance, and hybrid insurance that provides lump sums for education and marriage expenses.
Strategies for Time Management and Stress
This document discusses strategies for managing time and reducing stress. It emphasizes that time management is critical for adult learners with multiple commitments. It outlines nine time management skills: setting SMART goals; prioritizing tasks; organizing with schedules and plans; focusing on the task at hand; learning to say no; doing things right; conquering procrastination; considering your prime time; and using waiting time productively. Mastering these skills can help balance life activities and reduce distress caused by poor time management and an overloaded schedule. The document stresses that while some stress promotes growth, too much distress is harmful and must be managed through planning, balance, and maintaining perspective.
Viewers also liked (20)
Pressure regulator valves for industrial process control
Pressure regulator valves for industrial process control
Similar to Chapter 5
Stress management project report @ icici bank
This document provides a table of contents for a report on consumer behavior towards insurance products with ICICI Prudential as a case study. The executive summary introduces the topics to be covered, including the need for insurance, company profile of ICICI Prudential, vision and products offered, stress management, findings and suggestions. The introduction section provides background on life insurance including its origin and development in India. It outlines the key regulations established by the Insurance Regulatory and Development Authority.
Professional Indemnity Workshop
Professional Indemnity insurance protects professionals and organizations from financial losses resulting from claims made by third parties due to negligent acts, errors or omissions. It covers damages, settlements and defense costs. Key components of a PI policy include coverage for the firm arising from professional duties, claims made basis, limits of indemnity, and exclusions. Common professions that purchase PI include accountants, lawyers, consultants, engineers and medical professionals. Underwriting considers factors like revenues, claims history, staff experience and largest contracts to determine risk profile and premium.
yadav (1).pdf
The document is a summer internship project report submitted by Suraj Kumar for their MBA degree. It includes an introduction to insurance, company profile of CARE Health Insurance, and details of the CARE Health Family Optima Plan product. The report contains sections on SWOT analysis, objectives, policy documents, and conclusions from the internship project analyzing the health insurance product.
Bizcover Misc Risks Policy Wording
This document is a professional indemnity insurance policy for Bizcover Online Miscellaneous Risks. It provides coverage for civil liability arising from the conduct of professional services. Key details include:
- Coverage is provided on a claims made basis for claims first made and notified during the policy period.
- The limit of indemnity is the maximum the insurer will pay for any one claim, and the aggregate limit is the maximum for all claims during the policy period.
- Insured costs are covered in addition to or inclusive of the limit of indemnity depending on the basis of limit specified in the schedule.
- The policy outlines various extensions of coverage including compensation for court attendance, continuous cover
Country Comparative Legal Guides to Insurance & Reinsurance, Ireland 2017
This country-specific Q&A gives a pragmatic overview of the law and practice of insurance & reinsurance law in Ireland. It addresses topics such as contract regulation, licensing, penalties, policyholder protection, alternative dispute resolution as well as personal insight and opinion as to the future of the insurance market over the next five years.
Vero Professional Indemnity Policy Wording
This document is a civil liability professional indemnity insurance policy. It provides insurance coverage for legal liability arising from the insured's professional services.
The policy outlines the insuring clause, limits of coverage, excess amounts, extensions of coverage for costs and expenses, optional extensions, exclusions from coverage, claims conditions, general conditions, definitions, and notices regarding the insured's duty of disclosure. It specifies coverage for claims made against the insured during the policy period and notified to the insurer.
Professional indemnity insurance for quantity surveyors
This document discusses professional indemnity insurance for quantity surveyors. It explains that quantity surveyors can be held liable for losses suffered by clients due to errors or negligence. Professional indemnity insurance helps manage this risk by covering damages and legal costs awarded in negligence claims. It recommends that quantity surveyors carry adequate professional indemnity coverage and maintain "run-off" coverage for several years after completing work to protect against late-emerging claims. The document also outlines what professional indemnity insurance typically covers and excludes as well as best practices for quantity surveyors to minimize their risk of negligence claims.
Customer perception towards max newyork life insurance
This document provides the table of contents for a market survey report on customer perception towards Max Newyork Life Insurance. The document outlines 12 chapters, including an introduction, company profile, research methodology, data analysis and interpretation, findings, conclusion, and limitations. It also provides context on the insurance industry and life insurance importance. The introduction describes that the survey was conducted in Moradabad city with 50 respondents to analyze customer perception through a questionnaire.
Lr 9 Salient Li Pitches
This document provides information on various wealth management and insurance strategies including:
1. The Married Women's Property Act allows a married man to take out a life insurance policy for the benefit of his wife and children in a trust-like structure that protects the payout from creditors.
2. Assignment allows a policyowner to transfer ownership of a policy to another individual or entity, ensuring they receive the payout regardless of a will.
3. Taking out a life insurance policy under a Hindu Undivided Family means payouts go to the HUF corpus rather than an individual family member.
4. Key person, partnership, and employer-employee insurance allow businesses to take out policies on important individuals
Agent Training Method
This document summarizes a training seminar on insurance for financial associates. It provides details on the seminar such as the date, time, location, and presenter. It then outlines 15 topics that will be covered in the seminar related to insurance principles, products, regulations and ethics. The document continues to define key insurance terms and concepts like express, implied and apparent authority of agents and discusses issues like rebating, twisting, misrepresentation and replacing policies. It emphasizes the importance of ethical conduct for insurance agents.
chapter four.pptx
This document discusses several fundamental legal principles of insurance:
- The principle of indemnity states that the insurer will pay no more than the actual amount of the loss to avoid profiting the insured.
- The principle of insurable interest requires the insured to have a financial stake in the insured item/person.
- The principle of subrogation allows the insurer to recover costs paid from responsible third parties to prevent double recovery.
- The principle of utmost good faith requires honesty between insurer and insured.
It also outlines requirements for a valid insurance contract and characteristics like being aleatory and conditional. The document concludes by covering agents' authority and limitations.
Chapter 04 - Fundamental Legal Priciples
This document discusses several fundamental legal principles of insurance:
- The principle of indemnity states that insurers will pay no more than the actual loss amount to prevent profiting from losses.
- The principle of insurable interest requires the insured to have a financial stake in the insured item/person.
- The principle of subrogation allows insurers to recover paid losses from responsible third parties to prevent double recovery.
- The principle of utmost good faith requires honesty between parties in an insurance contract.
It also outlines requirements for a valid insurance contract and characteristics like being aleatory and contracts of adhesion. The document closes by discussing agents' authority and limitations on waivers.
Hedge Fund Insurance Brochure
The document discusses Errors & Omissions / Directors & Officers Liability Insurance for hedge funds. It covers what the policy insures (claims from investors, regulators for negligent acts), who is insured (investment manager, individuals, funds), the policy structure (declarations, forms, parts covering investment manager E&O, D&O, fund E&O/D&O), and key details like claims-made structure, prior acts coverage, limits, retentions, defense process, exclusions and underwriting factors.
Fundamentals ins takaful
This document provides an introduction to insurance and takaful. It explains that insurance transfers risk to an insurance company in exchange for premiums, while takaful is based on Islamic principles of mutual guarantee between participants. It outlines common types of insurance and takaful products and how to shop for and obtain plans. Key principles like insurable interest and utmost good faith are also discussed.
full project final-PDF
General insurance companies provide financial protection against losses from events like fire, floods or theft. They earn income from premiums paid by policyholders and investment returns. Premiums cover costs like claims payments, expenses and dividends. Investment returns depend on market conditions and vary yearly. Reliance General Insurance offers over 80 insurance products across categories like personal accident, fire, marine, motor, health and travel. It aims to make insurance accessible through branches across India and online services. The company follows quality standards and received ISO 9001:2000 certification.
Insurance pp.pptx
The document provides an overview of the Law of Insurance course offered at Ambo University School of Law. It discusses key topics that will be covered in the five chapters of the course, including the nature and function of insurance, types of insurance, regulation of the insurance business, insurance of objects, liability insurance, and life insurance. The first chapter will cover insurance in general, the significance and basic principles of insurance such as utmost good faith, indemnity, proximate cause, insurable interest, and subrogation. Subsequent chapters will examine the regulation of insurance, rights and duties of parties, scope of risks covered and compensation, and types of insurance like property, liability, and life insurance.
Insurance chapter 3.pptx
Insurance is a contract where an individual or entity receives financial protection from losses in exchange for paying premiums. Companies pool risks to make premiums affordable. There are two main types of insurance - life insurance which pays out a sum when a person dies, and non-life insurance which covers other losses or liabilities. Within these are various products like health, property, vehicle and travel insurance. Regulations ensure customer protection and industry growth.
ABI Trade Credit Insurance Guide
This document provides an overview and guide to trade credit insurance. It explains what trade credit insurance is, how it works, the types of policies available, benefits to businesses, and how to apply. Trade credit insurance provides coverage against the risk of customers not paying for goods or services. It allows businesses to extend credit confidently and access financing. The guide outlines the claims process, ongoing risk monitoring, and resources insurers provide to policyholders. Case studies demonstrate how credit insurance has benefited small businesses, exporters, multinationals, and helped firms through unexpected non-payments. It concludes with details on how to apply and purchase a policy through an insurance broker.
Chapter 01 concepts and principles of insurance
The document defines insurance as a social device where individuals transfer risk to an insurer who pools losses to make statistical predictions and provide payments from premium contributions. Legally, it is a contract where an insurer provides security to an insured against specified events in exchange for a premium proportionate to the risk. Key elements are risk transfer from insured to insurer, insurance as a business to meet costs and make profit, and an insurance contract as a legally enforceable agreement. Fundamental principles include utmost good faith, indemnity, subrogation, contribution, and proximate cause. There are various types of insurance and governing laws regulate the insurance sector in India.
Chapter 01 concepts and principles of insurance
The document defines insurance as a social device where individuals transfer risk to an insurer who pools losses to make statistical predictions and provide payments from premiums collected. It has three elements - risk transfer from insured to insurer, insurance as a business to meet costs/profit, and an insurance contract as a legally enforceable agreement. Key principles include utmost good faith, indemnity, subrogation, contribution, and proximate cause. There are various types of insurance classified as life or non-life, and laws/regulators govern the insurance industry.
Similar to Chapter 5 (20)
Country Comparative Legal Guides to Insurance & Reinsurance, Ireland 2017
Country Comparative Legal Guides to Insurance & Reinsurance, Ireland 2017
Professional indemnity insurance for quantity surveyors
Professional indemnity insurance for quantity surveyors
Customer perception towards max newyork life insurance
Customer perception towards max newyork life insurance
More from Hajar Hafizah
Chp 1
This document provides an introduction and overview of insurance, including definitions of insurance, how it works, its importance, functions, and classes. Insurance is defined as an economic institution based on mutuality that is formed to establish a common fund to pay for unforeseen losses. It works by pooling risks and losses from many individuals into a large fund. The primary function of insurance is the equitable distribution of financial losses from a few insured individuals among the larger group of insured. There are two main classes of insurance: life assurance which covers human life contingencies, and general insurance which covers property and liability risks.
Ch 6 -_benefits_compensation
This document discusses components of employee compensation and benefits programs. It covers statutory benefits that are legally required such as Employees Provident Fund (EPF), social security, and paid leave. Non-statutory or discretionary benefits are also examined, including health insurance, retirement plans, education assistance, and work-life programs. Components of total compensation including direct financial pay, variable pay, and indirect benefits are broken down.
Ch 5 -_performance_appraisal
This document discusses performance management and appraisal. It covers topics like emotional intelligence, performance management goals, training and appraisal, and performance appraisal methods. Specifically, it defines performance appraisal as a formal review and evaluation system of individual or team task performance. It also outlines common problems with performance appraisals, such as bias, lack of objectivity, and employee anxiety. The document provides details on methods for performance appraisals, including ranking, forced distribution, paired comparisons, and graphic rating scales.
Ch 5 -_human_resource_development
This document discusses staff orientation and human resource development. It defines staff orientation as helping new executives learn an organization's structure and culture to quickly start contributing. Human resource development includes training and development to improve employee competency and performance. Some key training methods discussed are instructor-led training, on-the-job training, job rotation, internships, and apprenticeships. The document emphasizes that training needs to be evaluated to ensure it effectively develops employees and supports organizational goals.
Ch 3 job_analysis
Job analysis is the systematic process of collecting information about jobs to document job duties and requirements. It involves determining the skills, knowledge, abilities and tasks required for a job. This information is then used for human resource functions like recruitment, performance management and compensation. The key aspects of job analysis are conducting interviews with employees and supervisors, observing job tasks, developing job descriptions that document responsibilities and specifications that outline qualifications. Regular analysis ensures job information stays current as tasks and technologies change over time.
Ch 3 -_recruitment_selection
This document discusses recruitment and selection. It defines recruitment as attracting qualified job applicants, and selection as choosing the best candidate for a position. The selection process involves reviewing applications, preliminary interviews, employment interviews, testing, screening references and backgrounds, and making a selection decision. Factors like legal issues, decision speed, the applicant pool, and organizational characteristics can influence selection. The document outlines sources for internal and external recruitment and different recruitment and selection methods, such as job posting, testing, structured and behavioral interviews. It also discusses potential problems in interviews like inappropriate questions, premature judgments, and contrast effects.
Ch 2 -_hr_planning
This document discusses job analysis, strategic planning, and human resource planning. It defines key terms like job analysis, job, and position. It describes the purposes of conducting a job analysis, including for staffing, training, performance appraisal, compensation, and legal compliance. It outlines different job analysis methods and how to develop job descriptions and specifications. It also covers strategic planning, human resource planning, forecasting human resource needs and availability, and addressing surpluses or shortages of workers.
Chapter 1 introduction_to_hrm_dis13
This document provides an overview of human resource management. It discusses the main functions of HRM including staffing, human resource development, compensation and benefits, safety and health, and employee and labor relations. It also examines the internal and external factors that influence HRM and how the roles and tasks of HRM are changing, with some functions now performed by HR managers, shared service centers, outsourcing firms or line managers. Finally, it differentiates between the roles of HR executives, generalists and specialists.
Costing case study pp
The document calculates material price, usage, and total variances as well as labor rate, efficiency, and total variances for products SLIM and SMART. For SLIM, the material price and usage variances were favorable due to decreased price and more efficient production methods. However, the labor rate and efficiency variances were unfavorable possibly because standards were too loose or equipment was inefficient. For SMART, the material usage and total variances were favorable likely due to machinery issues while the price and labor rate variances were unfavorable possibly from incorrect standards or changed rates.
Bibliografi rujukan
This document lists various internet sources and books used as references for information on secretarial services, company registration procedures, accounting software, and guides on writing training reports, financial statements, accounting dictionaries, starting a business, and the Malaysian legal system. References are provided from websites, software guides, and books on topics related to secretarial services, accounting, entrepreneurship, and legal matters.
Table
This document contains a list of technical terms including table, queries, form, report, switchboard, and macro. It appears to be an outline or table of contents for a technical document related to databases, data analysis, or business software. The terms suggest it will cover topics like working with database tables, writing queries to extract and analyze data, creating forms and reports to view and present information, and using macros to automate tasks.
Erd
The document outlines the objectives and problem statement for a database application final project created by four students. The objectives are to enhance the hospital system to be faster and smoother, safely record and store patient data, and create good staff schedules without timing clashes. The current problems are the manual system has low efficiency, unsecured patient files could be damaged or lost, scheduling inefficiencies, and difficulty updating patient information correctly. The conclusion is the Access database makes information easier to search, arrange, and find.
chapter 7 : electronic banking
Electronic banking systems allow customers to access banking services electronically rather than through traditional paper-based methods. The document defines electronic banking and electronic funds transfer, and identifies the key types of electronic banking systems including non-customer activated systems like SWIFT used between financial institutions, and customer activated systems like ATMs, EFTPOS, credit/debit cards, home banking, mobile banking, and internet banking. It discusses functions of these systems like cash withdrawals, deposits, transfers, and bill payments. The document emphasizes issues like security, secrecy and banks' reliance on IT services for electronic banking.
chpter 6 islamic banking 1
This document provides an overview of Islamic banking in Malaysia. It begins by defining Islamic banking according to the Organization of Islamic Conference as banking activities based on Islamic law (Shariah) that follow the principles of fiqh muamalat. The document then outlines the objectives of Islamic banking and explains the need for Islamic banking in Malaysia's financial system. It provides details on the implementation of Islamic banking in Malaysia, including the establishment of the first Islamic bank in 1983. The document also compares Islamic banking to conventional banking and summarizes the various Islamic financial instruments available in Malaysia.
chapter 3 : commercial bank
The document defines banking business and banks according to Malaysian law. Under the Banking and Financial Institutions Act of 1989, a bank is defined as an entity that carries out banking business, which includes receiving deposits, paying/collecting checks, and providing financing such as lending money, leasing, and purchasing financial instruments. Banks play roles like promoting savings and reasonable interest rates. They provide services like deposits, loans, remittances, and more. Regulations require banks to maintain reserves to control liquidity and credit levels.
chapter 2 : central bank
This document provides an overview of Bank Negara Malaysia (BNM), the central bank of Malaysia. It outlines the specific objectives to be covered, which include explaining the formation of BNM, its objectives and functions, organizational structure, relationship with international institutions, and the monetary policy instruments it uses. BNM was established in 1959 to manage Malaysia's money supply and credit situation. It is responsible for currency issuance, maintaining foreign reserves, advising the government, and promoting monetary stability. The document discusses BNM's governance structure and various tools available to influence monetary policy, including statutory reserve requirements, liquidity requirements, open market operations, and discount operations.
More from Hajar Hafizah (18)
Recently uploaded
Competition and Regulation in Professions and Occupations – ROBSON – June 202...
Competition and Regulation in Professions and Occupations – ROBSON – June 202...OECD Directorate for Financial and Enterprise Affairs
This presentation by Professor Alex Robson, Deputy Chair of Australia’s Productivity Commission, was made during the discussion “Competition and Regulation in Professions and Occupations” held at the 77th meeting of the OECD Working Party No. 2 on Competition and Regulation on 10 June 2024. More papers and presentations on the topic can be found at oe.cd/crps.
This presentation was uploaded with the author’s consent.Mẫu PPT kế hoạch làm việc sáng tạo cho nửa cuối năm PowerPoint
Mẫu PPT kế hoạch làm việc sáng tạo cho nửa cuối năm PowerPoint
Artificial Intelligence, Data and Competition – LIM – June 2024 OECD discussion
Artificial Intelligence, Data and Competition – LIM – June 2024 OECD discussionOECD Directorate for Financial and Enterprise Affairs
This presentation by Yong Lim, Professor of Economic Law at Seoul National University School of Law, was made during the discussion “Artificial Intelligence, Data and Competition” held at the 143rd meeting of the OECD Competition Committee on 12 June 2024. More papers and presentations on the topic can be found at oe.cd/aicomp.
This presentation was uploaded with the author’s consent.
原版制作贝德福特大学毕业证（bedfordhire毕业证）硕士文凭原版一模一样
原版一模一样【微信：741003700 】【贝德福特大学毕业证（bedfordhire毕业证）硕士文凭】【微信：741003700 】学位证，留信认证（真实可查，永久存档）offer、雅思、外壳等材料/诚信可靠,可直接看成品样本，帮您解决无法毕业带来的各种难题！外壳，原版制作，诚信可靠，可直接看成品样本。行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备。十五年致力于帮助留学生解决难题，包您满意。
本公司拥有海外各大学样板无数，能完美还原海外各大学 Bachelor Diploma degree, Master Degree Diploma
1:1完美还原海外各大学毕业材料上的工艺：水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠。文字图案浮雕、激光镭射、紫外荧光、温感、复印防伪等防伪工艺。材料咨询办理、认证咨询办理请加学历顾问Q/微741003700
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
Pro-competitive Industrial Policy – LANE – June 2024 OECD discussion
Pro-competitive Industrial Policy – LANE – June 2024 OECD discussionOECD Directorate for Financial and Enterprise Affairs
This presentation by Nathaniel Lane, Associate Professor in Economics at Oxford University, was made during the discussion “Pro-competitive Industrial Policy” held at the 143rd meeting of the OECD Competition Committee on 12 June 2024. More papers and presentations on the topic can be found at oe.cd/pcip.
This presentation was uploaded with the author’s consent.
Mastering the Concepts Tested in the Databricks Certified Data Engineer Assoc...
• For a full set of 760+ questions. Go to
https://skillcertpro.com/product/databricks-certified-data-engineer-associate-exam-questions/
• SkillCertPro offers detailed explanations to each question which helps to understand the concepts better.
• It is recommended to score above 85% in SkillCertPro exams before attempting a real exam.
• SkillCertPro updates exam questions every 2 weeks.
• You will get life time access and life time free updates
• SkillCertPro assures 100% pass guarantee in first attempt.
Suzanne Lagerweij - Influence Without Power - Why Empathy is Your Best Friend...
This is a workshop about communication and collaboration. We will experience how we can analyze the reasons for resistance to change (exercise 1) and practice how to improve our conversation style and be more in control and effective in the way we communicate (exercise 2).
This session will use Dave Gray’s Empathy Mapping, Argyris’ Ladder of Inference and The Four Rs from Agile Conversations (Squirrel and Fredrick).
Abstract:
Let’s talk about powerful conversations! We all know how to lead a constructive conversation, right? Then why is it so difficult to have those conversations with people at work, especially those in powerful positions that show resistance to change?
Learning to control and direct conversations takes understanding and practice.
We can combine our innate empathy with our analytical skills to gain a deeper understanding of complex situations at work. Join this session to learn how to prepare for difficult conversations and how to improve our agile conversations in order to be more influential without power. We will use Dave Gray’s Empathy Mapping, Argyris’ Ladder of Inference and The Four Rs from Agile Conversations (Squirrel and Fredrick).
In the session you will experience how preparing and reflecting on your conversation can help you be more influential at work. You will learn how to communicate more effectively with the people needed to achieve positive change. You will leave with a self-revised version of a difficult conversation and a practical model to use when you get back to work.
Come learn more on how to become a real influencer!
ASONAM2023_presection_slide_track-recommendation.pdf
Presented at the 2023 IEEE/ACM International Conference on
Advances in Social Networks Analysis and Mining.
Tom tresser burning issue.pptx My Burning issue
Addressing the status of black home ownership in America. and what actions are taken to impact these trends.
Competition and Regulation in Professions and Occupations – OECD – June 2024 ...
Competition and Regulation in Professions and Occupations – OECD – June 2024 ...OECD Directorate for Financial and Enterprise Affairs
This presentation by OECD, OECD Secretariat, was made during the discussion “Competition and Regulation in Professions and Occupations” held at the 77th meeting of the OECD Working Party No. 2 on Competition and Regulation on 10 June 2024. More papers and presentations on the topic can be found at oe.cd/crps.
This presentation was uploaded with the author’s consent.
Artificial Intelligence, Data and Competition – ČORBA – June 2024 OECD discus...
Artificial Intelligence, Data and Competition – ČORBA – June 2024 OECD discus...OECD Directorate for Financial and Enterprise Affairs
This presentation by Juraj Čorba, Chair of OECD Working Party on Artificial Intelligence Governance (AIGO), was made during the discussion “Artificial Intelligence, Data and Competition” held at the 143rd meeting of the OECD Competition Committee on 12 June 2024. More papers and presentations on the topic can be found at oe.cd/aicomp.
This presentation was uploaded with the author’s consent.
Pro-competitive Industrial Policy – OECD – June 2024 OECD discussion
Pro-competitive Industrial Policy – OECD – June 2024 OECD discussionOECD Directorate for Financial and Enterprise Affairs
This presentation by OECD, OECD Secretariat, was made during the discussion “Pro-competitive Industrial Policy” held at the 143rd meeting of the OECD Competition Committee on 12 June 2024. More papers and presentations on the topic can be found at oe.cd/pcip.
This presentation was uploaded with the author’s consent.
Presentatie 4. Jochen Cremer - TU Delft 28 mei 2024
Dutch Power Event
“AI – Navigeren naar de toekomst?”
Op 28 mei 2024 bij Info Support.
2024-05-30_meetup_devops_aix-marseille.pdf
Slides de notre meetup DevOps AixMarseille du 30 mai 2024 chez SmarTribune
Sujets: platform engineering / terragrunt / test containers
Artificial Intelligence, Data and Competition – SCHREPEL – June 2024 OECD dis...
Artificial Intelligence, Data and Competition – SCHREPEL – June 2024 OECD dis...OECD Directorate for Financial and Enterprise Affairs
This presentation by Thibault Schrepel, Associate Professor of Law at Vrije Universiteit Amsterdam University, was made during the discussion “Artificial Intelligence, Data and Competition” held at the 143rd meeting of the OECD Competition Committee on 12 June 2024. More papers and presentations on the topic can be found at oe.cd/aicomp.
This presentation was uploaded with the author’s consent.
Artificial Intelligence, Data and Competition – OECD – June 2024 OECD discussion
Artificial Intelligence, Data and Competition – OECD – June 2024 OECD discussionOECD Directorate for Financial and Enterprise Affairs
This presentation by OECD, OECD Secretariat, was made during the discussion “Artificial Intelligence, Data and Competition” held at the 143rd meeting of the OECD Competition Committee on 12 June 2024. More papers and presentations on the topic can be found at oe.cd/aicomp.
This presentation was uploaded with the author’s consent.
Carrer goals.pptx and their importance in real life
Career goals serve as a roadmap for individuals, guiding them toward achieving long-term professional aspirations and personal fulfillment. Establishing clear career goals enables professionals to focus their efforts on developing specific skills, gaining relevant experience, and making strategic decisions that align with their desired career trajectory. By setting both short-term and long-term objectives, individuals can systematically track their progress, make necessary adjustments, and stay motivated. Short-term goals often include acquiring new qualifications, mastering particular competencies, or securing a specific role, while long-term goals might encompass reaching executive positions, becoming industry experts, or launching entrepreneurial ventures.
Moreover, having well-defined career goals fosters a sense of purpose and direction, enhancing job satisfaction and overall productivity. It encourages continuous learning and adaptation, as professionals remain attuned to industry trends and evolving job market demands. Career goals also facilitate better time management and resource allocation, as individuals prioritize tasks and opportunities that advance their professional growth. In addition, articulating career goals can aid in networking and mentorship, as it allows individuals to communicate their aspirations clearly to potential mentors, colleagues, and employers, thereby opening doors to valuable guidance and support. Ultimately, career goals are integral to personal and professional development, driving individuals toward sustained success and fulfillment in their chosen fields.
Recently uploaded (20)
Competition and Regulation in Professions and Occupations – ROBSON – June 202...
Competition and Regulation in Professions and Occupations – ROBSON – June 202...
Mẫu PPT kế hoạch làm việc sáng tạo cho nửa cuối năm PowerPoint
Mẫu PPT kế hoạch làm việc sáng tạo cho nửa cuối năm PowerPoint
Artificial Intelligence, Data and Competition – LIM – June 2024 OECD discussion
Artificial Intelligence, Data and Competition – LIM – June 2024 OECD discussion
Pro-competitive Industrial Policy – LANE – June 2024 OECD discussion
Pro-competitive Industrial Policy – LANE – June 2024 OECD discussion
Mastering the Concepts Tested in the Databricks Certified Data Engineer Assoc...
Mastering the Concepts Tested in the Databricks Certified Data Engineer Assoc...
Suzanne Lagerweij - Influence Without Power - Why Empathy is Your Best Friend...
Suzanne Lagerweij - Influence Without Power - Why Empathy is Your Best Friend...
ASONAM2023_presection_slide_track-recommendation.pdf
ASONAM2023_presection_slide_track-recommendation.pdf
Competition and Regulation in Professions and Occupations – OECD – June 2024 ...
Competition and Regulation in Professions and Occupations – OECD – June 2024 ...
Artificial Intelligence, Data and Competition – ČORBA – June 2024 OECD discus...
Artificial Intelligence, Data and Competition – ČORBA – June 2024 OECD discus...
Pro-competitive Industrial Policy – OECD – June 2024 OECD discussion
Pro-competitive Industrial Policy – OECD – June 2024 OECD discussion
Presentatie 4. Jochen Cremer - TU Delft 28 mei 2024
Presentatie 4. Jochen Cremer - TU Delft 28 mei 2024
Artificial Intelligence, Data and Competition – SCHREPEL – June 2024 OECD dis...
Artificial Intelligence, Data and Competition – SCHREPEL – June 2024 OECD dis...
Artificial Intelligence, Data and Competition – OECD – June 2024 OECD discussion
Artificial Intelligence, Data and Competition – OECD – June 2024 OECD discussion
Carrer goals.pptx and their importance in real life
Carrer goals.pptx and their importance in real life
Chapter 5
- 1. REGULATION AND SUPERVISION OF INSURANCE INDUSTRY 1
- 2. Like other businesses, insurance industry is subjected to regulations due to : - To protect the consumers, as insurance only sells promises which will only be fulfilled in the occurrence of the insured events and depends on the insurers’ integrity and financial stability - The inability of policyholder to interpret and understand the contract - To protect the well being of the public and the economy 2
- 3. 8 basic consumer rights : - Right to satisfaction - Right to information - Right to choose - Right to basic goods and services - Right to be heard - Right to redress - Right to consumer education - Right to a safe and clean environment PB502/HANIZA/PSA 3
- 4. Unreasonable delay in settlement of claims Unfair claims settlement Operating at high marketing costs Collusion and price fixing Poor service Providing incomplete and false information Resorting to pressure selling Lack of professionalisme 4
- 5. Its purposes : - To instill and promote healthy competition in the industry - To provide some element of protection to insurance consumers 5
- 6. Through insurance associations : - PIAM - IBAM - AMLA - LIAM Eg : Inter Company Agreements and Guidelines To regulate the proper conduct of the business, ensure ethical and professional being of the insurers and agents 6
- 7. Helps to instill self-discipline among insurance companies Avoids the need to introduce legislation to regulate the industry When laws are passed, bureaucratic back-up will be required to enforce them Measures can respond to changing needs faster than legislation 7
- 8. Voluntary codes of practice do not have the power of law The statement of practice viewed consumers’ needs from the insurers’ perspective Unlike laws, statements are interpreted by the insurers 8
- 9. To protect the public interest - Insurer is financially solvent and able to fulfill its obligations To promote fairness and equity - insurers, brokers and adjusters fair and equitable in their dealings To foster competency - Insist high level of professional competence and integrity To play developmental role - Encourage the industry to take active part in the economic development of the country 9
- 10. PART I : PRELIMINARY PART II : LICENSING OF INSURER, INSURANCE BROKER AND ADJUSTER PART III : SUBSIDIARY AND OFFICE OF LICENSEE PART IV : INSURANCE FUND AND SHAREHOLDERS’ FUND PART V : DIRECTION AND CONTROL OF DEFAULTING INSURER PART VI : MANAGEMENT OF LICENSEE PART VII : AUDITOR, ACTUARY AND ACCOUNTS PART VIII : EXAMINATION 10
- 11. PART IX : INVESTIGATION, SEARCH AND SEIZURE PART X : WINDING UP OF INSURER PART XI : TRANSFER OF BUSINESS PART XII : PROVISIONS RELATING TO POLICIES PART XIII : PAYMENT OF POLICY MONEYS UNDER A LIFE POLICY OR PERSONAL ACCIDENT POLICY PART XIV : INSURANCE GUARANTEE SCHEME FUND PART XV : MISCELLANEOUS 11
- 12. 4. (1) For the purposes of this Act, insurance business shall be divided into two classes: (a) life business, which in addition to all insurance business concerned with life policies shall include any type of insurance business carried on as incidental only to the life insurer’s business; (b) general business, which means all insurance business which is not life business 12
- 13. 7. (1) Except with the prior written approval of the Bank and subject to such conditions as it may specify, no licensed insurer shall carry on— (a) annuity certain business; or (b) investment-linked insurance business. 13
- 14. “annuity certain” means an annuity contract where the duration of periodic payments is predetermined and does not depend on the death or survival of the policy owner; “investment-linked insurance business” means the effecting and carrying out of a contract of insurance on human life or annuity where the benefits are, wholly or partly, to be determined by reference to the value of, or the income from, property of any description or by reference to fluctuations in, or in an index of, the value of property of any description. PB502/HANIZA/PSA 14
- 15. 8. (1) For the purposes of this Act, a reference to carrying on insurance business includes all or any of the following: (a) receiving proposals for insurance; (b) negotiating on proposals for insurance on behalf of an insurer; (c) issuing of policies; (d) collection or receipt of premiums on policies; or (e) settlement or recovery of claims on policies. PB502/HANIZA/PSA 15
- 16. 10. No person shall hold himself out to be an insurer, insurance broker, adjuster or financial adviser unless he is licensed under this Act. 12. (1) A licensed insurer, other than a licensed professional reinsurer, shall not carry on both life business and general business. PB502/HANIZA/PSA 16
- 17. 13. (1) The Minister shall be responsible for the issue of licence authorising the holder to carry on insurance business. PB502/HANIZA/PSA 17
- 18. 22. (1) No licensee shall carry on its licensed business unless it is a member of an association of— (a) life insurers for life insurance business; (b) general insurers for general insurance business; (c) insurance brokers; or (d) adjusters, PB502/HANIZA/PSA 18