Understanding Insurance

13. How to make Insurance in line with Shariah?

Discussions in the last two articles Why is conventional insurance not in line with Sharia? (part 1) and Why is conventional insurance not in line with Sharia? (part 2) have led us to the conclusion that the principal problem that makes conventional insurance unacceptable to Shariah is the mechanism of transferring risk from the insured… Continue reading 13. How to make Insurance in line with Shariah?

Understanding Insurance

10. Why do we still need Shariah compliant Insurance?

Previous nine articles have introduced what risk is, how it is categorized based on frequency and severity, briefly discussed how insurance deals with risk through pooling of risks and law of large numbers. We have also defined (conventional) insurance and introduced several fences to keep insurance away from gambling or betting and prevent the misuse… Continue reading 10. Why do we still need Shariah compliant Insurance?

Understanding Insurance

9. Gambling vs insurance: Basic principles of insurance (part 2)

Previous article Gambling vs Insurance: Basic Principles of Insurance (part 1) briefly discussed the first three of the basic principles of insurance, namely insurable interest, utmost good faith and proximate cause. We continue now with remaining three principles namely indemnity, subrogation and contribution. 4. Indemnity This principle asserts that insurance will only pay claim for… Continue reading 9. Gambling vs insurance: Basic principles of insurance (part 2)

Understanding Insurance

7. Gambling vs Insurance: Requirements for insurable risks

We end previous article Between Gambling and Insurance with a statement that basically only pure risks are insurable, while speculative risks are not. However, it is not necessarily that every pure risks are insurable. In other words, pure risk is not the only condition for a risk to be insurable. To ensure insurance does not… Continue reading 7. Gambling vs Insurance: Requirements for insurable risks

Understanding Insurance

6. Between gambling and insurance

Previous articles in the series of 'Understanding Insurance' have discussed what risk is, how it is grouped based on frequency and severity, at a glance how insurance works based on the principle of pooling of risks and law of large number and also briefly alluded to concept of hazard . We continue now to discuss… Continue reading 6. Between gambling and insurance

Mengerti Asuransi

9. Judi vs Asuransi: Prinsip-prinsip Dasar Asuransi (bagian 2)

Artikel sebelumnya Judi vs Asuransi: Prinsip-prinsip Dasar Asuransi (bagian 1) telah  mendiskusikan secara ringkas tiga butir pertama dari prinsip-prinsip dasar asuransi, yaitu insurable interest, utmost good faith dan proximate cause.  Kali ini kita lanjutkan dengan pembahasan tiga prinsip lainnya yaitu indemnity, subrogation dan contribution. 4. Indemnity Prinsip ini menegaskan bahwa asuransi hanya akan membayar klaim sebesar… Continue reading 9. Judi vs Asuransi: Prinsip-prinsip Dasar Asuransi (bagian 2)

Mengerti Asuransi

8. Judi vs Asuransi: Prinsip-prinsip Dasar Asuransi (bagian 1)

Apabila asuransi diibaratkan sebagai suatu proses memproduksi sesuatu, lima butir persyaratan resiko yang dapat diasuransikan yang dibahas dalam artikel Judi vs Asuransi: Syarat-syarat agar Risiko dapat diasuransikan adalah penyaringan atas bahan baku. Adapun butir-butir yang akan kita diskusikan selanjutnya merupakan prinsip-prinsip dasar yang harus dipenuhi oleh proses produksi asuransi sebagai suatu mekanisme pemindahan resiko.  Butir-butir ini… Continue reading 8. Judi vs Asuransi: Prinsip-prinsip Dasar Asuransi (bagian 1)

Mengerti Asuransi

7. Judi vs Asuransi: Syarat-syarat agar Risiko dapat diasuransikan

Artikel sebelumnya Antara Judi dan Asuransi kita akhiri dengan pernyataan bahwa pada dasarnya hanya risiko murni yang dapat diasuransikan , sedangkan risiko spekulatif tidak.  Namun demikian, tidaklah serta merta setiap risiko murni dapat diasuransikan.  Dengan kata lain risiko murni bukanlah satu-satunya syarat bagi suatu resiko untuk dapat diasuransikan.  Demi memastikan atau paling tidak menjauhkan asuransi dari… Continue reading 7. Judi vs Asuransi: Syarat-syarat agar Risiko dapat diasuransikan

Riskonomics, Uncategorized

Judi dan asuransi

Diskusi tentang asuransi syariah di sebuah Whatsapp group hari ini mengingatkan saya untuk melanjutkan artikel yang saya tulis dibulan September 2015 yang berjudul 'Hukum Kekekalan Resiko' (http://ifexplorer.blogspot.my/2015/09/hukum-kekekalan-resiko.html).Dalam artikel itu telah dibahas apa itu resiko, bagaimana ia dikelompokkan berdasarkan kekerapan (frequency) dan keparahan (severity), sekilas bagaimana asuransi bekerja berdasarkan prinsip pooling of risks dan law of… Continue reading Judi dan asuransi