«UNSMIS» return to previous opinions anathema .. Reality or cope with the reform of its

Insurance is still the focus of discussion and debate in many forums, some companies resort to the school that are considered by many to be the most open and flexible economy in the knowledge of economic issues of legitimacy, and the school, which considers many other companies to be more stringent and order issues in the Islamic economy.

And to the organized body of the Islamic economy and finance the largest forum «UNSMIS» over the three days, where the focus of the conference on the legal side, which is still the most controversial in Saudi Arabia in terms of the sanctity of what is being done by insurance companies or not.

During the days of the Forum, embraced by the Saudi capital of Riyadh, there are several papers discussing the insurance cooperative, and behavior of firms in the amounts of the owners of insurance policies.

Also witnessed the first day of the forum has drawn sharp criticism for some of the cooperative insurance companies, where the thesis has emerged, Dr. Mesfer Dosari Professor of Economics at King Saud University, which was on the «UNSMIS between dreams and illusions of reality theory», paper and drew the attention of Dosari attendance, especially since the researcher was based on the opinions old of the senior scholars in Saudi Arabia.

In the opinion of Dosari that circumvent some of the insurance companies to evade the provision of compensation, and they employ a large number of lawyers to write contracts, and make it porous to help in the legal evasion of its obligations, noting that the goal of these companies is profit and nothing else. On the other hand, commented one participant in the forum, Dr. Ali Mohieddin Dagi Professor in the Faculty of Shariah at Qatar University and a member of legitimate bodies of many Islamic banks, that it must search for the facilitation of the people, not things forbidden, because the origin of the thing, but to be there on pieces of evidence proving prohibited. He added that Dr. Mohieddin Islamic insurance prevailing in the Muslim world is based on the principle of cooperation and the donation, but it differs from the simple and cooperative insurance, where the composite structure of the administrative and technical, as the Islamic insurance formed the technical and administrative structure on the basis of either the Agency without pay, or pay the agency.

The Forum meetings provide a variety of insurance papers, as presented by Dr. Abdel-Rahman, a member of the teaching authority of the Higher Institute of Judicial Administration at the University of Imam Muhammad bin Saud Islamic paper, which pointed out that a cooperative insurance where the application of Islamic law, and that the transactions in Islamic Sharia and the broad and can be found the solutions, pointing out that what distinguishes health insurance is to provide economic protection and to ensure a decent life for individuals who are covered by its provisions. As a member of Dr. Yusuf Shubaily faculty at the Higher Institute for the Elimination of the University of Imam Muhammad bin Saud Islamic paper, which was under the title «insurance through suspension», in which he can not reject an insurance cooperative that meets the interests of the people, no objection to including Nsogha controls in line with Islamic law, because many people spend huge amounts of money for treatment in civil hospitals, while health insurance to the needs of the people. On the other hand, concluded Dr. Mohammed Saadou Continental Professor of Islamic Economics at the University of Umm Al-Qura, in a study by the title «Evaluation of regulations and documentation of cooperative insurance in Saudi Arabia», that the control system and its cooperative insurance executive and the cooperative health insurance system and its implementing regulations, does not reflect what was supposed to insurance in Islamic thought, but the concept of insurance reflects the positive thinking in terms of having the possibility of netting and binding for both sides.

Among other things, it included the results of a study that the legitimacy of the Continental Dr. UNSMIS assumption does not necessarily mean that the legitimacy of applications and, more importantly, it does not mean the existence of control is legal in a number of insurance companies that the contracts of these companies and its legitimacy.

He also emphasized that Dr. Continental insurance systems and regulations the executive close to the commercial insurance to the insurance cooperative, and that there is a need to redraft the regulations, those regulations and then the formulation and documentation of insurance.

And a variety of papers presented at the Forum, where the judges, Dr. Moses Professor of Science in the Islamic world in Jordan, a paper entitled «Takaful insurance growth between the motives and the risk of stalemate», and another search under the title «obstacles to cooperative insurance industry in Saudi Arabia» Dr. Fahd al-Dean of the Faculty of Systems and Political Science, and other securities.

Expectations of the growth of Islamic insurance to the 11 billion dollars

Officials expect the Islamic insurance sector to grow by between
30 and 40% annually over the next three to five years.

And as far as the Executive Director of the Company for Takaful Noor Ahmed Janahi at a conference in Dubai about the size of the sector is currently 2.5 billion dollars, and likely to rise to 11 billion in 2015.

The estimated current assets, which follows Islamic law between 700 billion and a trillion dollars.

His plans for the Lloyds Bank in London, the establishment of a specialized arm of the Islamic re-insurance in the capital of nearly 295 million dollars.

The company expects to "any. C. R" for the Islamic insurance - based in Malaysia - its growth between 15 and 20% during the year.

In the context of the Islamic News Agency related to the classification of the Islamic Development Bank - Jeddah - the ability of Islamic banks to overcome the global financial crisis better than conventional banks.

Significant growth
The President signed the International Islamic Banking The Royal Bank of Scotland growth rates that the Islamic financial sector, although the financial crisis.

In a report to the firm Ernst & Young Advisory expected that the volume of global Islamic insurance market to more than 7.7 billion dollars in 2012.

It said that the global takaful contributions rose to 3.4 billion dollars in 2007 from 2.5 billion dollars in 2006. The total contributions to Saudi Arabia in 2007 about 1.7 billion dollars and 797 million in Malaysia. These two countries are the largest markets for synergy.

The report pointed out that the Gulf Arab countries, Malaysia and Sudan, the largest three-Takaful markets, while still in the Indian subcontinent, Indonesia, Egypt and Turkey, a breakthrough in the least the Islamic market

Misr Insurance

Target company

Misr Insurance Company aims to provide insurance protection for the human and material wealth and to meet current customer needs and expectations of the future through the employment of qualified administrative and productivity as well as to provide support for the national economy and society ...
Therefore, the company is striving to satisfy customers and retain existing and attract more prospective customers and investing to serve the national economy, society and the benefit of policyholders and the company to maintain leadership in the Egyptian insurance market.
Established

Misr Insurance Company was established by Royal Decree of January 14, 1934, by a national economy, Mohamed Talaat Harb first insurance company in Egypt contributed to breaking the monopoly of foreign insurance activity in Egypt.
Misr Insurance Company is an Egyptian joint-stock company of the insurance holding company as of 15/7/2006 and are subject to the provisions of Company Law No. 10 of 1981, as amended, and are licensed to carry on insurance and reinsurance operations and recorded the Egyptian Authority for Insurance Control and Supervision No. 1 in 1952, a commercial No. 12 Cairo, which is subject to supervision

An insurance against the hazards of one million rials default and professional negligence and errors

Approved the list of companies, rehabilitation of health insurance claims management, adopted by the Minister of Health, the conclusion of an insurance policy covering risks in respect of professional negligence and negligent and wrong so that the insurance cover of at least one million riyals.
The regulations in 9 chapters contain general definitions of terms used in the regulation and the conditions that must be provided by management companies for the rehabilitation of health insurance claims and exercise of the functions and controls the work of the Department of health insurance claims, and organize all the relations between the parties to the relationship specified in Article I and the sanctions and the dispute settlement mechanism to oversee the claims management companies, health insurance.
The statute to be a fine of not applying at the time of the renewal of rehabilitation than 30 days from the date of expiry of the previous amount of rehabilitation 25 thousand riyals and rehabilitation will be stopped after 60 days from the date of expiry of the previous qualification without having to apply to renew rehabilitation. No less fine in the case of a renewal application after the Rehabilitation Council resolution to halt the rehabilitation, from 25 thousand riyals and not more than 90 thousand riyals, according to the President of the Council in the light of the circumstances leading up to stop the rehabilitation. Does not affect the decision to stop training on the obligations of the company. And doubled the fine owed by the company by 100% if the period of 30 days from the date of signing without penalty paid by the company.
The regulation on the management company that claims to provide health insurance to the insurance company and the service provider all the data required for the completion of claims and the settlement of receivables, and if the management company to provide health insurance claims are reasonable grounds to doubt the validity of this information to the company that can bring the matter to the Board for verification. And be responsible for claims management company health insurance in the event that one of its employees of fraud, abuse or fraud in the exercise of its functions.
And provided a list of items that may not be a management company for health insurance claims U marketing and sale of health insurance, as must the company and the conclusion of the health insurance with health insurance companies eligible for the insurance coverage set forth in the document management company to employees of health insurance claims . The other article stated that the doctors recruited to work for insurance claims management companies health professional independence in their views and are subject only to the medical requirements of the tasks engaged in the control, no right to interfere in the medical treatment, or treatment of beneficiaries. And obliges the regulation of both the service provider and the beneficiary and the insurance company providing medical management company working in the health insurance claims with all information requested and to put at their disposal all the necessary documents to carry out surveillance in accordance with the provisions of Article (34) of these Regulations,
The Secretary-General of the Council of health insurance, Dr. Abdullah bin Ibrahim Al-Sharif (the city) that the start of the Council's role to ensure the rehabilitation of the companies after checking the availability and the completion of the required conditions and consequently the process of supervision and control of claims management companies have to the health insurance system, health insurance and its collaborative operational and to ensure that these companies, as well as parties to the relationship of health insurance implementation of tasks and responsibilities entrusted to them under the regulations adopted.
One of the functions of the claims management companies to do work on health insurance claims and the study of examination of claims that arise on the occurrence and the consequent payment of compensation to the holder of the document from the insurance company and the management of medical programs from health insurance companies with the service provider and are subject to the cooperative health insurance system as a minimum as well as estimating the cost of compensation arising from the emergency service outside the network compared to the value of the actual cost of the health service provided within the network, whether inside or outside Saudi Arabia and to the work of the financial settlements of the claims received and received between the relevant authorities.

Glass Insurance

The cost of a large glass and find that some insurance companies that an important part of the glass Tominacha. This is particularly true in the retail shops and supermarkets and exhibitions .. Etc., as the facades and windows of stores play a major role in the process of supply and marketing and attracting customers. The document glass and pay compensation for the cost of the replacement of all external glass is broken in the crash and the shops and commercial offices. Is the extension of the glass to cover the special types of glass are very expensive replacement value, such as glass and silver, and the route and the ornate carved and Tonic and armed against the bullets.

Dishonesty insurance

If the company suffered a financial loss resulting directly from the work of the secretariat of the betrayal of one of its employees, the betrayal of our document to ensure the company would compensate for this loss.

Species and individual life insurance

# Co-insurance on the life of one person with participation in profits
Insurance company undertakes to pay the amount of insurance to the beneficiary specified in the contract in the event of the death of the insured during the term of the contract, or at the end of the term of the contract if the insured is alive, plus earnings accrued in the two cases.

# Co-insurance on the lives of two people with the participation in the profits.
In this type of documents, including two people with links to coverage of family or business relationships, where the insurance company undertakes to pay the amount of insurance on the date of expiration of the term of the insurance if the insured persons for their lives to survive, either in the event of the death of one before the expiration of the term insurance, the company acted immediately the amount of insurance to the insured person on the other life and surviving in addition to the profits as of the date of death.

# Endowment insurance with profits, education and pension.
Father is the work of this type of insurance to ensure the amount paid to his son or his daughter's university education or fee-price at the time of marriage, and the amount of insurance payable at the end of the insurance of the contractor, if the father was present at the end of the date of insurance if the insurance at that date, but if the father died during the the entry into force of the insurance, the document shall be exempt from paying premiums after the age of the death of the father and continue the same conditions as the original insurance but Atchetrk document in profit for the period of exemption from fees - In addition, the company paid for the son of an annual pension at the end of insurance period, or even before his death, and is paid pension in two six-month payment, but if the son died during the life of the father during the validity of insurance, the company paid the original amount of insurance plus profit Almsthakpany the death of the son, according to the following:

If over the age of 5 years to pay the full amount of insurance with the insurance profits and ends.
* If the age of 3-5 years pay 50% of the amount and the insurance profits and ends.
If the age of 1-3 years, 25 of the amount paid, profits and the insurance ends.

# Insurance venture with the creditor to participate in the profits
The basic amount of insurance payable at the end of the insurance to the insured, plus the share of investment profits from the document and other earnings, and add the share of profits in the December 31 of each year, among other basic annual premiums paid since a year or more (on a compound interest) If the insured person died during the course of the insurance company paid to the beneficiaries the full amount of basic insurance, plus a share of the profits of the document and the investment earnings until the other declared the date of death.

# Insurance is mixed with the early payments to participate in the profits
Hold this type of insurance is extended to 12 years - 15 years - 18 years - 21 years, in the case of the survival of the insured under the life insurance paid until the end of the amount of insurance the following format: a - at the end of the first third of the duration of insurance, for example, if the insurance period 12 year the company paid a quarter of the amount of insurance (2500 d. k, if the full amount of Dr. 10000. k) after four years - at the end of the second third (ie, after another four years the company paid a second quarter of the amount of insurance (2500 d. k, if the amount of 10000 d insurance. k) At the end of insurance after the 12 years, the company paid the rest of the amount of insurance is (half) the amount of any d 5000. k plus profit by our example of this. b - If the insured died during the course of the insurance, paid the full amount of the insurance company without deduction of any payments previously paid to the insured plus the profits that have accrued until the date of death.

# Life insurance
Insurance company undertakes to pay the beneficiary the amount of insurance specified in the contract upon the death of the insured at any time of any death that the insurance protection afforded by this type of insurance will continue for the duration of the life of the insured without any limitation of time, who spoke of death.

#-Income family subsidy
Subsidies are paid, in addition to the amount of insurance under a life insurance combined these ads are aimed at providing income to members of the deceased's dependents during the period between the date of the death of the insured, and the due date or the end of the document.

# Temporary insurance
This ensures the payment to the beneficiary specified in the contract in the event of the death of the insured, provided that death occurs during a certain period, if the insured remains alive until the end of this period is discharged by the insurance company end the contract.

# Temporary insurance premiums with the response in the case of life
This type of insurance, such as the type of "temporary insurance", but differs from that in the case of the survival of the insured is alive at the end of insurance period, the company is committed to return all premiums paid by the insured during the period of full performance.

# Insurance provisional decreasing
It is similar to (7) in that it gives insurance coverage for the insured so that the amount of insurance in the event of death only during the period of insurance, but differs in that the amount of insurance in any year of insurance less than the amount of insurance in the previous year, meaning that decreasing the amount of insurance annually as a fixed premium and play this type of insurance during the period of time less than the original period of insurance is often a period equivalent to two-thirds during the period of insurance.
This type of insurance suited to borrowers by banks or investment institutions that grant such loans.

# Document fees
A document that gives an updated insurance coverage to the Crown is the student / pupil during the study until the end of high school, so that in the event of the death of the Crown is committed to the company to pay tuition fees of pupils / pupil until the completion of secondary education at the same school or another school with the same level of fees school.

# A simple employment insurance
It is an insurance policy covering the annual death with double the normal amount of insurance in the event of death an accident in addition to disability resulting from an accident, and the expenses of transportation of the body.
A uniform amount of insurance capacity - .1000 d. K, a uniform insurance premium for all ages and can even double the amount of insurance - .4000 d. K.
This document is suitable for simple labor deployed in Kuwait as domestic workers, drivers and farm workers and restaurant workers and cleaners, which gives them an appropriate share of insurance coverage.