What are the proofs that demonstrate the prohibition of insurance?

Commercial insurance of all types is forbidden by Islamic law due to its inclusion of several prohibitions: 1. Gharar (Excessive Uncertainty/Risk): The insurance contract is a contract of excessive gharar, and its intended outcome is unknown. The Prophet (peace be upon him) forbade the sale of gharar. 2. Qimar (Gambling) and Maysir (Games of Chance): Insurance involves risk, as the insured person might pay a small amount and receive a large one, or pay a large amount and receive nothing. This is the meaning of qimar, which Allah has forbidden. 3. Riba (Usury/Interest): It includes riba al-fadl (usury of surplus) and riba al-nasi'ah (usury of delay). The amount paid by the insurance company may be more, less, or equal to what the insured has paid, and all of this happens through the exchange of dirhams for dirhams with a delay. 4. Devouring People's Wealth Unjustly: The company takes premiums without a valid counter-value if the risk does not occur. The insured might pay a single installment and receive a large sum. By what right is this money deserved? 5. Imposing Obligations Not Required by Sharia: The insurance company is not legally obligated to guarantee the loss, as it did not cause the risk or default. 6. Social Harms: It leads the insured to be careless in preserving their wealth and may even incite them to fabricate accidents.

Most scholars and Fiqh academies have issued fatwas declaring all types of commercial insurance forbidden.