Indonesia Conference Directory

The development of sharia insurance in Indonesia has provided an alternative for Muslims to meet the needs of insurance that is clearer, free from maisir, gharar and usury. The special features possessed by sharia insurance include the application of the concept of risk sharing, where each surplus received by the company is entirely owned by the participant and in practice this surplus is shared with sharia insurance companies. The relatively high growth of the sharia insurance industry is certainly not spared from dispute problems between parties as is also the case with conventional insurance. The issue of disputes must be dealt with clearly and decisively who or which institution can mediate, and what if there is no agreement which institution will decide. Discourse authority over the settlement of Islamic insurance disputes stems from the existence of disharmony in its regulation. The law which is used as a legal basis for settlement seems to equate sharia insurance with conventional insurance so that sharia principles are not accommodated. Even between the laws that become the legal umbrella for the implementation of sharia insurance contradict each other or cause the most dualism in dispute resolution arrangements.