A preliminary analysis on the impact of flood and the awareness of the flood victims Towards takaful protection: A study of East-coast Malaysia’s flood victims
In Malaysia, there has been frequent large-scale flooding in the recent years that resulted in damage in property and giving impact on the livelihood of the people, particularly in the east-coast regions of the country. The objective of this study is twofold. First, it aims to investigate the imp...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Global Academic Excellent
2017
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/61323/ http://irep.iium.edu.my/61323/ http://irep.iium.edu.my/61323/1/JISED-2017-06-12-02.pdf |
| Summary: | In Malaysia, there has been frequent large-scale flooding in the recent years that
resulted in damage in property and giving impact on the livelihood of the people, particularly
in the east-coast regions of the country. The objective of this study is twofold. First, it aims to
investigate the impact of the flood on the socio-economic livelihoods of the victims, and second,
to explore the awareness among the flood victims towards a Takaful protection to enable them
to better cope with the flood risks. In terms of methodology, survey method has been adopted to
147 respondents who were affected by the flood in the flood-prone areas in the states of
Kelantan and Pahang. Based on simple descriptive analysis, it is found that flood had affected
the victims financially especially on their sources of income. In terms of awareness towards
Takaful schemes, majority of the victims are aware of Takaful, yet about 30 percent of them are
uncertain about the existence of Takaful schemes that may reduce their financial losses when
the flood hit. Furthermore, the victims also have limited knowledge on the amount of Takaful
contribution that they have to pay for flood coverage (41 percent) and they are uncertain on
their capability to pay the monthly Takaful contribution in future (44 percent). The findings of
this study provide important inputs on the possibility of establishing an affordable micro-takaful
meant for future financial protection as a safety net especially for the lower income and most
vulnerable flood victims in the country. |
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