Journal of Legal, Ethical and Regulatory Issues (Print ISSN: 1544-0036; Online ISSN: 1544-0044)

Abstract

The Existence of Sharia Insurance Business Arrangement by Positive Law

Author(s): Muhaimin

The existence of sharia insurance as part of dual insurance system, in insurance business has important meaning as supporting business activity in Indonesia, but in its implementation not yet supporting by clarity the rule of law managing it; it can have implication to existence of sharia insurance according to positive law. The purpose of this study is to analyze the existence of sharia insurance business according to positive law, using normative legal research using conceptual and statute approach that comes from primary, secondary and tertiary law material through literature study, then analyzed descriptively and prescriptively to get a deductive conclusion. The results show the existence of sharia insurance business in the insurance legal system before the release of the Act on Insurance Business in 2014 is not the same as conventional insurance, but with the Law no. 40 of 2014 on Insurance, the juridical position of sharia insurance equal or equal to conventional insurance because the Indonesian legal system has embraced dual insurance system