المستخلص: |
The study encompasses a wide range of issues and variables, with primary emphasis given to the legal and economic impacts of regulations on the sound development of the business, on the pricing and the financial results of the industry, on the penetration of the underwriting commissions and other expenses, on the insurance market's performance and the like. Emphasized also are some key accounting and auditing aspects that mainly revolve around the notion of insurance provisions which form the heart of the business techniques. No study would be complete in the area of development of the insurance business without dedicated and specific consideration given to these aspects. The insurance business, whether conventional or Takaful Shariah-compliant, is based on the principles of the Quran and the Hadith, on risk sharing and risk transfer. This study comes to fruition naturally because I have been involved in the insurance business for 12 years, both overseas and domestically, and because the Iraqi insurance industry has always fallen short of expectations. The subject is worthy since there is no previous study that deals with the industry in depth, especially the area that this study covers. The fact that this region, in spite of its historical and present richness in assets, still lacks a developed insurance market, and the fact that due to the rapid technological advances, its assets are under increasing threat from being wiped out, make it all the more imperative to carry out a specific area of analysis.
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