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vassa no one

one of the most common questions that I've been asked is about the issue of

insurance so I'm gonna answer all of these questions in chala today and

because the topic is so long in detail it will be our only question for today.

So the topic for today is what is the position of our scholars with regards to overall

the topic of insurance, whether it is commercial insurance, house with This will be our topic for today. So we answer this question by beginning with the definition.

What exactly is insurance?

Insurance, of course, as we all know, it is a form of risk management where lots of people come together. These are the policyholders. of an unknown event or an uncertain future event. And of course the concept of

insurance was not around in the time of you know the prophet of some of the

Sahaba when the Quran was revealed the people were not doing these types of

transactions.

In fact, insurance is a relatively modern phenomenon and it only began in the 17th century

after the great fire of London in 1666. If you're aware of your history, London was engulfed in flames and I think a quarter of the city or half the city was destroyed. Tens of thousands of houses were destroyed. And so the concept came of the

people who lost their properties that what if we were somehow protect the value of our property

and have a fee that we can pay to a company that we can gain back the protection of our house.

And this began the concept, if you like, of house insurance.

And in fact, our own funding for the Benjamin Franklin when he came to America

he actually founded the Philadelphia contribution for the insurance of houses

from the loss of fire. That's the name of the company. So if your house is burnt in a fire,

Benjamin Franklin has a business. If you pay him money, then he will do that.

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