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?

Riskonomics

Menimbang adakah metode reasuransi excess of loss sejalan dengan Syariah

Note: English version of this article is available at Assessing Shariah compliance of excess of loss retakaful. Pada suatu Jumat sore yang cerah, seorang kandidat PhD Islamic Finance yang masih muda datang untuk berdiskusi tentang metode retakaful (reasuransi syariah) non-proporsional. Ia membawa sebuah makalah ISRA yang secara singkat menyentuh topik ini, namun tanpa kesimpulan. Ia… Continue reading Menimbang adakah metode reasuransi excess of loss sejalan dengan Syariah

Mengerti Asuransi

14. Asuransi Konvensional vs Syariah: Perikatan antara para pihak

Telah kita akhiri artikel sebelumnya Mensyariahkan Asuransi dengan pernyataan bahwa takaful atau asuransi syariah yang kita kenal sekarang adalah hasil modifikasi yang fundamental dari asuransi konvensional.  Modifikasi itu dilakukan dengan menanggalkan konsep risk transfer (pemindahan risiko) yang merupakan pokok masalah utama dari sisi syariah dan menggantinya dengan konsep risk sharing (berbagi risiko). Pernyataan itu barangkali memberi kesan… Continue reading 14. Asuransi Konvensional vs Syariah: Perikatan antara para pihak

Mengerti Asuransi

10. Mengapa harus ada asuransi syariah?

Source: Smith Family Photography Dalam sembilan artikel sebelum ini telah diperkenalkan apa itu risiko, bagaimana ia dikategorikan berdasarkan kekerapan (frequency) dan keparahan (severity), sekilas dibahas bagaimana asuransi menangani risiko melalui penggalangan risiko (pooling of risks) dan hukum bilangan besar (law of large number).Telah pula kita definisikan asuransi (konvensional) serta memperkenalkan pagar-pagar demi menjauhkan asuransi dari… Continue reading 10. Mengapa harus ada asuransi syariah?

Riskonomics

Assessing Shariah Compliance of Excess of loss Retakaful

Note: Bahasa Indonesia version of this article is available at Menimbang adakah metode reasuransi excess of loss sejalan dengan Syariah. On a sunny Friday afternoon, a young PhD candidate in Islamic Finance came for a discussion about non-proportional method of retakaful. She had with her an ISRA paper that briefly touched on this topic but… Continue reading Assessing Shariah Compliance of Excess of loss Retakaful