Who Should Attend?

• Professionals working in solidarityinsurance companies and Islamic financial institutions.

• Legal advisors and insurance contract drafters.

• Individuals interested in developing knowledge of Shariah-compliant insurance.

• Administrative staff in risk management and claims departments.

Knowledge and Benefits:

After completing the program, participants will be able to master the following:

• Understand the basic concepts, objectives, and principles of solidarity insurance.

• Comprehend the fundamental differences between conventional and solidarity insurance from legal and Shariah perspectives.

• Acquire the skills required to draft and execute various types of insurance contracts.

• Familiarize themselves with the legal and regulatory requirements for insurance contracts.

• Develop the ability to read, analyze, and practically interpret insurance policy provisions.

• Introduction to Insurance and Solidarity Insurance

  • Definition of insurance and its economic and social significance.

  • Historical development of solidarity insurance.

  • Core principles of solidarity insurance.

• Differences Between Solidarity and Conventional Insurance

  • Shariah and jurisprudential considerations in insurance.

  • Comparison of contractual and regulatory foundations in both systems.

  • Provisions related to gharar (uncertainty), riba (interest), and gambling in insurance.

• Organizational Structure of Solidarity Companies

  • Board of Directors and Shariah Supervisory Board.

  • Financial structure and participants’ fund.

  • Role of the company in management, whether fee-based or profit-sharing (Mudarabah).

• Types of Solidarity Insurance

  • Shariah-compliant life insurance.

  • Health insurance and accident insurance.

  • Marine, aviation, and commercial insurance under the solidarity system.

• Components of a SolidarityInsurance Policy

  • Key data in the insurance policy.

  • General and specific terms, conditions, and exclusions.

  • Obligations of the insurer and the insured.

• Stages of Preparing and Executing an Insurance Contract

  • Submission of insurance application and actuarial assessment.

  • Issuance of the policy and determination of coverage.

  • Managing the contractual relationship during the insurance period.

• Legal Drafting of Insurance Contracts

  • Legal characteristics of insurance contracts.

  • Contractual liability in case of breach.

  • Insurance as a contract of adhesion and its legal interpretation limits.

• Risk Management in Solidarity Insurance

  • Mechanisms of solidarity reinsurance.

  • Risk assessment and collective distribution methods.

  • Relationship between risk management and policy pricing.

• Claims Settlement Mechanism in Solidarity

  • Steps for reporting incidents and evaluation.

  • Required documents and regulatory procedures.

  • Compensation provisions and recourse in Shariah-compliant insurance.

• Challenges and Future Prospects of Solidarity Insurance

  • Regulatory and legislative challenges.

  • Opportunities in emerging markets and Islamic finance.

  • Innovation in Takaful products and expanding coverage scope.