Question: Assalam Alaikum, I have two questions: First: In the book the Economic System, in the discussion of insurance there is an example that confused me, which is “'Give your clothes to a cleaner and I guarantee them if they are damaged' … there will be a guarantor, a person guaranteed for and a guaranteed person, who is the unknown cleaner. How does this differ from the insurance company? There is a guarantor, i.e. the company and the person guaranteed for, i.e. the owner of the car and the guaranteed person, i.e. the car that is on the road and its driver who is unknown who we might hit him one day. (more…)
