What is the ruling on insuring companies in Western countries, knowing that it is optional, and company owners resort to it to avoid malicious lawsuits that may be filed against them?

Commercial insurance of all types is Islamically forbidden, due to its inclusion of gharar (excessive uncertainty), maysir (gambling), and consuming wealth unlawfully. The fear of fines does not justify it. The Sharia-compliant alternative is cooperative insurance, which is based on donation and mutual cooperation. It is permissible for Muslims residing in the West to establish cooperative insurance to face various risks.