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Volume :26 Issue : 85 2011      Add To Cart                                                                    Download

Right of compensation abatement in Takful Insurance condition Between Shariah and Kuwait law

Auther : Dr. Reyadh Mansour AL-Khuleifi.

Right of compensation abatement in Takful Insurance condition Between Shariah and Kuwait law.
Dr. Reyadh Mansour AL-Khuleifi.
International Shariah Consultancy company – State of Kuwait

This study deals with the discussion of an insurance contemporary issue of special significance in insurance contemporary processes. It is titled (Right of compensation abatement condition in Takaful Insurance between Shariah and Kuwaiti law). This study has been done into researches :
The first : Technical and legal framework for right abatement condition. (stipulation)
The second : The Shariah attitude from the condition of abatement in Takaful insurance.

In the first topic the study concluded that the chosen definition term The stipulation of abatement is A contract demanding, stipulation, its realization – in particular – raises the right of the insurer in compensation.) or it is an agreement on a reward as a result of a breach in obligation). The resulting rights of insurance contract have been limited into three main rights as follows : The right of guarantee, the right of abrogation and the right to return. They were clarified and distinguished.

There are two sources exposed to abrogation of the right of compensation. They are : Breach in time of informing of the accident and a breach in stipulations of safety and security previously agreed on.

The study clarified that contractual obligations of the insured person done by insurance contract are divided into financial and date obligations related to risk data of the insuring person. The financial obligations are represented in : payment of the due premium, but those related to data are : giving correct data about risk before contracting and informing when risk becomes great during current contract and immediate information of danger befalling during current contract. We have explained it showing the legal effect caused by its breach.

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Nov 04, 2019

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