Possibility of Adopting Cooperative Insurance:
During the beginning of industrial renaissance period and industrial revolution which happened in the world, and with the increasing of commercial exchanges among nations, the commercial insurance in its western concept followed by capitalism depending on profit and Riba (usury) has been moved to Islamic countries, therefore the capitalists started to construct the commercial insurance companies depending on western system. At this time, the importance of cooperative insurance has appeared as Islamic alternative to prohibitive commercial insurance according to all Islamic rules. Its importance has accordingly been increased for benefits and advantages offering to individual and community. Hence, the present research shows the possibility of adopting this insurance through proposing advantages, social and economic reasons. The difference between it, commercial insurance and the Islamic judgment is that both depend on the available academic references. The practical side of this research was through the reconnaissance study which has been achieved by insurance companies in Nineveh Province. Seventy four questionnaires have been distributed.
Several results were concluded in this study after analysis and the researchers have presented the suitable suggestions.
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