Can I insure my business ?

Fatawa Question

I’m in the process of opening an Internet pharmacy and just needed clarification on which types of insurance would be permissible • Employers liability. This is a legal requirement when employing staff and is to cover them in case of personal injury etc. at work. If there was to be an incident then the potential amounts involved could be very significant • Professional indemnity. This covers any mistakes that could lead to patient harm. If a patient claims then the bill could be massive and would not be manageable should the worst happen. All pharmacists are generally expected to have this • Stock and computer / equipment cover. These are essential items that are needed to keep the business running and would need immediately replacing if there was damage / theft. The business as well as patients requirements are dependent on this • Business turnover protection should anything happen then it covers the profits the business would have been making while a claim is being processed. Not necessary but would it be ok ? Comes as standard with some policies

Fatwa

Click hereto view more

Publisher

al-Qalam Shariah Scholar Panel

Publication Date

2016-02-24

Country of Publication

United Kingdom

Main Subjects

Economics & Business Administration
Financial and Accounting Sciences
Islamic Studies

Topics

• Islamic jurisprudence
• Insurance
• Employees
• Labour

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-726563

• APA
• MLA
• AMA