Working as an underwriter in the insurance sector
Question
What is the ruling on working as an underwriter in the insurance sector? Underwriters are responsible for deciding whether or not to accept applications for insurance cover, by assessing the risk of insuring a person or company according to the likelihood of a claim being made.
بسم الله الرحمن الرحیم
Answer
The default position is that insurance is prohibited due to garar (uncertainty) and also ribā (interest) and qimār (gambling) in many of the insurance products. It is therefore not permissible to work as an underwriter.
قال الله تعالى: وتعاونوا على البر والتقوى ولا تعاونوا على الإثم والعدوان. وعن أبي هريرة قال: نهى رسول الله صلى الله عليه وسلم عن بيع الحصاة وعن بيع الغرر، رواه مسلم (١٥١٣)۔
Allah knows best
Yusuf Shabbir
12 Muḥarram 1445 / 30 July 2023
Approved by: Mufti Shabbir Ahmed and Mufti Muhammad Tahir
