Using the practice of the 'Aqilah as evidence for the permissibility of insurance
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Question:
He says: Honorable Shaykh, may Allah grant you success, is the argument for the permissibility of insurance based on the practice of the 'Aqilah valid?
Answer:
Insurance, my brother, is consuming the money of strangers who have no stake in it. The 'Aqilah covers the blood money for the participants, who are your relatives and have no connection to you, and you take their money. You pay one hundred riyals, and if the blood money is one hundred thousand, the partners in the insurance company bear it. It is borne by the insurance company, and that is from the money of people, not from the money of your relatives. So how can you make strangers bear this? This is consuming the money of people through falsehood. Yes.
He says: Honorable Shaykh, may Allah grant you success, is the argument for the permissibility of insurance based on the practice of the 'Aqilah valid?
Answer:
Insurance, my brother, is consuming the money of strangers who have no stake in it. The 'Aqilah covers the blood money for the participants, who are your relatives and have no connection to you, and you take their money. You pay one hundred riyals, and if the blood money is one hundred thousand, the partners in the insurance company bear it. It is borne by the insurance company, and that is from the money of people, not from the money of your relatives. So how can you make strangers bear this? This is consuming the money of people through falsehood. Yes.
Source
قناة «العلامة الدكتور صالح الفوزان»، 104 من 123/شرح كتاب زاد المستقنع/الديات/الشجاج وكسر العظام/صالح الفوزان/الفقه/كبار العلماء — youtube.com (53:40)
The Arabic text is a machine transcription of the audio recording.