What is the ruling on insuring a car with the Cooperative Insurance Company, which involves paying a certain amount and coverage of up to 3 million Saudi Riyals, with the remainder being returned to the shareholders? Is it permissible or impermissible?

We have not been informed about the activities of the aforementioned company. However, insuring things is done in two ways: Cooperative insurance, which is permissible if it adheres to Sharia guidelines, because it is a pure donation and falls under the saying of Allah Almighty: "And cooperate in righteousness and piety." Its companies are known as Islamic insurance companies. Commercial insurance, on the other hand, is forbidden due to the excessive gharar (uncertainty) and the forbidden gambling it involves.