Human habits do not want to lose want to profit, if something adverse happens, not only do not want to lose, but want to profit, where there is a need, there is a product, there is a product called insurance.
In Muamalah Maliyah the way to overcome losses is to help, if the help is zero nominal profit, there will be one party whose impression is "very good", because indeed the contract of help is usually one-way, if two-way must be commercial.
That is why the Muamalah Maliyah contract for insurance is a help-help contract, with a grant contract, everyone gives their money, a large amount will be collected, well every time something happens, for example illness, it will be paid with the "business" money, of course no one wants to get sick right, then the "business" money will be used naturally.
But in the usury economic system as it is today, money that is "idle" will decrease in value, so it needs to be managed so that its value remains sustainable, so that when someone needs it, the value of money is appropriate.
In this case, an organizer or fund manager is needed, in the form of a legal entity, the concern is, this manager or organizer must not take advantage, even if you get a margin from the results of fund management, it can be used only to meet the needs of the manager, with a maximum limit of 1/3, but in formal practice it is only 10%, as formalized in the Law for Nazhir waqf in Indonesia can only take 10%, the rest to the rightful.
Such a pattern is not used in insurance financial institutions, because basically insurance is born in a capitalist system where the owner of money will always want profit at all costs.
The risks that may exist will be borne by the insurance, until here it seems fine, even though the insurance will develop premium money collected through financial instruments that are not real, and benefit from capital gains, even those who bear the risk then are the re-insurance party, the re-insurance party also certainly wants to profit, it will "play livestock money" too, so on, In the end, the loss is the people, because if there is economic turmoil, then the insurance financial institution collapses, of course the state will intervene, where does the state money come from? from the community too!.
No wonder it does see such a big domino effect of insurance, because insurance at the same time contains gharar, risk occurs or not, usury, if there is no risk, then customer money is paid more in the future and maysir play gambling in the non-real sector.
Wallahu a'lam bishawab