Workman Compensation / Employer’s Liabilities Takaful

The intention of the basic PMD is to provide compensation in the event of an accident causing death or injury. What are termed capital sums are paid in the event of death or certain specified injuries such as the loss of limbs or sight as may be defined in the PMD.

The PMD is usually extended to include a weekly benefit for up to 52 weeks, or compensation if the insured is temporarily totally disabled due to an accident and a reduced weekly benefit if he is temporarily only partially disabled from carrying out his normal duties. In the event of permanent total disablement (other than loss of eyes or limbs) an annuity is paid.

In addition to the purchase of personal accident Takaful by individuals, it is also for companies to arrange cover on behalf of their employees and many organizations arrange ‘group schemes‘ to this end.

Personal accident cover can be extended to provide a weekly benefit for up to 52 weeks if the insured is temporarily or totally disabled from engaging in his usual occupations due to sickness. Personal accident and sickness policies are renewable annually and, its scope is worldwide.

Money Takaful

(Cash in safe &/or on counter and whilst in Transit)
The loss of money represents the final form of all risks cover. The PMD provides compensation to the insured in the event of money being stolen either from his business premises, his own home, or while it is being carried to and from bank. Even for the person running a medium sized business, this is an extremely important form of cover since large sums of money are drawn from banks to meet wages and these can often be the target for hold ups.

One important addition to this cover is often the provision of some compensation to employees who may be injured or have clothing damaged during a robbery.

Burglary Takaful

Burglary PMDs have the same aim as the standard fire PMD, in that they intend to provide compensation to the insured in the event of loss and/or damage of the property contributed.

The property to be insured, for a commercial venture, will be the same as under the fire PMD except of course the buildings. The Burglary PMD will, in addition, show a more detailed definition of the stock. The reason for this is that fire is indiscriminate, whereas a theft is not , so the insurers charge more for stock which is attractive to thieves.

Burglary within the meaning of the PMD include force and violence either in breaking into or out of the premises contributed.

Fidelity Guarantee

The object of this class of business is to provide protection against loss by reason of the dishonesty of persons holding position of trust, resulting in direct financial loss.

House Hold Takaful

This popmd provides cover to articles including Jewelry and Cash/Prize Bonds due to the risks of Burglary/Dacoity and material damage.

Baggage Takaful

The scope of its Takaful is worldwide and covers loss or damage to the baggage of the traveler in any part of the world.

Third Party Liability

This PMD will indemnify the contributed in respect of all sums which the contributed shall become legally liable to pay for death of or bodily injury to any person and/or direct damage to property by accident including legal fee as described in the PMD schedule arising during period of indemnity and caused by contributed or any person in the service of the contributed occurring during the actual progress of work, and any defect in the buildings ways works, machinery or plant connected with or used in the business of the contributed.

Product Liability

Product Liability PMD provides compensation to manufacturers / suppliers of goods / products or services, if goods / products supplied are defective in any way and as a result of which the customer / user suffer property damage or bodily injury. The Product Liability PMD would indemnify the producer / suppliers for their legal liability including the legal expenses.Product Liability PMD provides compensation to manufacturers / suppliers of goods / products or services, if goods / products supplied are defective in any way and as a result of which the customer / user suffer property damage or bodily injury. The Product Liability PMD would indemnify the producer / suppliers for their legal liability including the legal expenses.

Professional Indemnity

Professional Indemnity PMD indemnifies the takafuled as a direct result of any negligent act, error on omission in the professional conduct and execution of the professional activities. Legal expenses incurred are additionally paid.

This cover is suitable for professionals like lawyers, accountant, engineers, consultants, doctors etc.

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