Insurance and takaful is a highly regulated form of business because its characteristics include complexity, future provision and heavy reliance by the buying public on the integrity and financial security of the insurer. It may be viewed as a form of governmental consumer protection. The insurer and takaful operator are the trustees of the policyholder premium and they have to invest the premium and pay any loss that the policyholder may incur on the risk that has been transferred to the insurer or takaful operator.