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itions and Functions of the Underwriting Department
 
This will give us an idea of how to organize Islamic insurance.
 
Traditionally, the business of insurance, according to J.O Irukwu (1985), is organized under four departments, namely; life, marine department, accident and fire departments. In practice however, some departments such as accident for example are further divided into sections with sectional heads. Accidents in some companies in Africa are divided into separate departments, for example, burglary, road as well as general accident departments.
 
Irukwu (1985) further shows that some small companies in Africa simply organize their insurance as follows:
 
Life Department: which handles all ordinary life and group life business (volume of this business is far less than non-life).
 
Non-Life Department: Handling all branches of non-life business.
 
Claims department: handling claims emanating from all departments, and an agency or marketing department.
 
He further showed that a typical, composite and fairly large insurance company would organize insurance under the following departments:
 
Life department: with all the appropriate sections as indicated below.
 
Non-Life Departments as follows: fire, marine, accidents and motor (vehicle) as well as service and general departments such as the reinsurance department, the agency or marketing departments and an accounts department.
 
The large or more sophistical insurance companies have a marketing development department and a public relations department.
 
For Islamic insurance the importance of a public relations department cannot be overemphasized.
 
Islamic insurance have now become popular in many part of the world including non-Muslims countries like America, UK and Europe, as it is today Islamic insurance global market was said to be estimated at $2.1 billion as at 2001 and it has been growing at more than 15% per annum since 2000. As of 2006 in Middle east alone Islamic insurance generate $6.9 billion in premium income, it was also expected to grow to be worth $14 billion by the year 2015 despite the global financial turmoil, according to the latest Swiss Re’s report.

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