Religious concerns
Muslim scholars have different views on insurance. The insurance policies that earn interest are generally regarded as a form of usury (usury) and some even consider policies that do not bear interest at a form of gharar (speculation). Some argue that gharar not present due to actuarial science behind the subscription.
Jewish rabbinical scholars have also expressed reservations about insurance as an escape from the will of God, but find it more acceptable in moderation. Continue reading Controversies
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