Insurance, Banking, Marketing: October 2010

Insurance and Insurance Law in Islam # 2

By: Dr. Setiawan Budi Utomo

Operational Principles Sharia Insurance

dakwatuna.com - The main principle in Islamic insurance is ta'awanu 'alal birri wa al-taqwa (please-menolonglah you all the goodness and piety) and al-takmin (feel safe). This principle makes the members or participants of insurance as a large family with each other mutual guarantees and bear the risk. This is due to transactions made in the Takaful insurance is an agreement takafuli (bear one another), rather than contract tabaduli (exchange), which has been used by conventional insurance, the exchange with the sum assured premium payment.

The scholars and experts of Islamic economics argue that Islamic insurance or takaful insurance is established on three main principles, namely:

Insurance and Insurance Law in Islam

By: Dr. Setiawan Budi Utomo

dakwatuna.com - Under sharia laws muamalah (business transactions) is open, meaning that Allah Almighty in the Qur'an only gives the rules that are outline only. The rest is open to scholars mujtahid to develop it through his ideas do not conflict with the Qur'an and Hadith. Al-Quran and Hadith do not actually mention what and how the insurance. But that does not mean that insurance is haraam, because it contains the substance of Islamic law in Islamic insurance as an operational base Islamic insurance.
The essence of Islamic insurance is a mutual responsibility, work together or help-help and mutual suffering to each other. Therefore, an insured is allowed by sharia, because the basic principles of sharia to invite to every thing that resulted closeness to the fabric of our fellow human beings and what their disaster relief as the word of Allah SWT. in Al-Quran surah Al-Maidah paragraph 2, which means: O ye who believe! Violate not the sanctity of the symbols of God, nor of the Sacred Month, nor of the animals brought for sacrifice, nor the garlands that mark out such animals, nor the people resorting to the sacred house, seeking of the bounty and good pleasure of their Lord. But when ye are clear of the Sacred Precincts and of pilgrim garb, ye may hunt and let not the hatred of some people in (once) shutting you out of the Sacred Mosque lead you to transgression (and hostility on your part). Help ye one another in righteousness and piety, but help ye not one another in sin and rancour: fear God: for God is strict in punishment.

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Description:

Insurance in Islam

In the Indonesian Ensikloped mentioned that the insurance is guaranteed or trade that is given by the insurer (eg insurance office) to a charge for risk of loss as specified in the agreement (policy) in case of fire, kecuriam, damage and so on or about the loss of life ( death) or other accident, with which the insured to pay premiums as much as in the set to the insurer of each month.
A. Abbas Salim gave the sense, that insurance is a willingness to establish small losses (small), which is definitely a (substitution) large losses that have not been sure.
From the above understanding to be concluded, that it's the same with people who are willing to pay a little loss in the present for-kerugain can face big losses that may occur in the future.
For example, in fire insurance insure one's house, factory or shop to the insurance company. The person must pay a premium to the insurance company. In the event of fire, the company will replace the losses caused by fire.

Differences: Islamic Insurance and Conventional

Danger, damage and loss is a reality that must be faced by people in this world. So the possibility of risk in life, especially economic life is very big. Of course this requires preparation of a number of specific funds early.

Therefore many people take way and system to avoid the risk of loss and danger. Among the insurance which is a system for financial loss by channeling lower risk of loss from a person or entity to another.

This has been a widespread Sisem Indonesian country in particular and the world in general. Thus require an explanation of this problem in a review of Islamic shari'ah.

Questioning Insurance In Islam

Insurance is a contract of guarantee from the guarantor (ie insurance companies) to give a number of property or wages regularly or replace other items, to those who were given collateral (ie insurance clients), at the time of the accident or the certainty of danger, which is described by the agreement it instead of installments or payments made by customers to the company.
From this description it is evident that in the insurance agreement that there are elements:

   1. The form and amount of collateral that will be given the insurance company.
   2. Danger or calamity that occurred.
   3. Or installment payments paid by the customer.

Insurance in Islamic Law

Definition of insurance is a contract that requires the insurance company (muammin) to give to customers / clients of his (muamman) a fortune as a consequence of the agreement, both the form of compensation, salary or compensation of any kind of goods when terjadibencana or accident or proven a danger as indicated in the contract (transaction), in exchange for money (premium) paid regularly and periodically, or in cash from the client / customer (muamman) to insurance companies (muammin) at the time of his life.

Based on the above definition can be said that insurance is one way of payment of compensation to the party of the unfortunate, to be funded by contributions from all participants insurance premiums.

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