Question:
I am legally required to have workers compensation insurance and public liability insurance to run my business. In such a case, will it be permissible for me to hold these two types of insurance policies?
Answer: In the Name of Allah, the Most Gracious, the Most Merciful.
If you are legally required to have workmen compensation insurance and public liability insurance to run your business then you will be excused for subscribing to these two types of insurance. However, note that if you are ever paid by the insurance company then only that amount will be permissible for you which you paid to the company as premium. More than this amount will not be permissible for you. The excess will have to be given as charity to the poor without the intention of reward.
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