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BOILERS & PRESSURE VESSEL TAKAFUL SCHEME
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As boilers & pressure vessels may be covered together with other machines under our MACHINERY BREAKDOWN TAKAFUL PLAN, you may also want to have it covered by its own with our more specifiec product, the BOILERS & PRESSURE VESSELS TAKAFUL PLAN.
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The plan covers :
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- damage to the boiler or other apparatus described in the schedule of theCertificate.
- damage to surrounding property belonging to you such as buildings, machinery, stocks etc.
- your liability on account of fatal or non-fatal injuries to, or bodily injury and damage to the property of third party.
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COMPUTER (MATERIAL DAMAGE) TAKAFUL SCHEME
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Although our ELECTRONIC EQUIPMENT TAKAFUL PLAN provides comprehensive cover for computers and its operating systems softwares, we still provide another option similar to that with coverage only limited to material damage while at work or rest or dismantled for purpose of cleaning.
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CONTRACTOR'S ALL RISKS TAKAFUL SCHEME
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This plan is usually sought by contractors, in relation to the requirement un der a contract which normally specifies the need to have adequate cover or protection for building under construction.
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If your project relates to structural and infrastructural works e.g. dams, roadwork etc. and use basic or relatively simple building material such as sand, gravel, cement, wood, steel etc. then this product is for you.
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Perils covered :
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- Natural - Fire, Lightning, Water damage, Float, Storm and Tempest subsidence, Landslide, Cyclone, Hurricane, Earthquake, Volcanic Eruption.
- Social - Burglary or Theft and Malicious Damage.
- Chemical - Explosion, Spontaneous Combustion, Heating, Fermentation.
- Miscellaneous - Impact and Aircraft Damage.
- Others - Accidental Damage.
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ELECTRONIC EQUIPMENT TAKAFUL SCHEME
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This plan offers a comprehensive cover for electronic / computer related equipment including the operating systems softwares. Any physical loss will be compensated, unless the loss is excluded.
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Items damaged or destroyed must be due to a sudden unforseen circumstances, whereby they no longer able to function properly. The cover is devided into three sections :
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- material damage
- data media
- increased cost of working
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ERECTION ALL RISKS TAKAFUL SCHEME
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This plan is usually sought by contractors in relation to the requirement under a contract which normally specifies the need to have adequate cover of protection for machinery under erection.
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If your project relates to erection, installation, testing and commissioning works for electromechanical equipment (e.g. Turbines, Transformers, Boilers) then this is the plan for you.
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Perils covered :
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- Fire and lightning and special perils e.e. water damage, flood, storm and tempest, subsidence, landslide, cyclone, hurricane, earthquake, volcanic eruption.
- Theft and malicious.
- Electrical or mechanical breakdown or explosion during testing operation (new machinery only).
- Accidental damage during assembly e.g. dropping or falling or breakage of sling, collapse and collision.
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LOSS OF PROFITS (MACHINERY) TAKAFUL SCHEME
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When a machine in a factory breaks down, not only would there be an expensive repair work to be incurred, but there would also be continuos description or inturruption of business, usually in the form of time spent in arranging and executing repairs, awaiting delivery of new or repaired parts (sometimes from overseas), restarting up the plant and reactivating the business. This is the reason why your business needs this plan.
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MACHINERY BREAKDOWN TAKAFUL SCHEME
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This plan covers sudden and "unforeseen" damage to the machinery whilst at work or rest, and during cleaning, inspection, over-hauling or removal or transfer to another position within the premises.
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This could save you hundreds of thousands of ringgit because sometimes a loss confined to a single machine may produce a total loss situation.
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The sudden and unforeseen damage includes :
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- faulty material, design, construction or erection, vibration.
- maladjustment or malalignment.
- failure of connected machinery or prospective devices defective lubrication, loosening of parts, abnormal stress, self-heating, centrifugal force axcessive electrical pressure shorts circuits, arcing or open circuits, failure of insulation carelessness or malicious acts, lack of skill failing, impact, collision, and the like.
- storm and tempest, obstruction or the entry of foreign bodies.
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The main elements of the cover are related to electrical and mechanical breakdown & accidental damage from extraneaous causes.
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MARINE CARGO TAKAFUL SCHEME
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Delivering goods via sea involves a huge risk of :
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- Fire or explosion
- Stranded, grounded sunk or capsized of vessel
- Overturning or derailment of land conveyance
- Collision of vessel
- Natural disasters
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just to name a few. This is where our MARINE CARGO TAKAFUL PLAN comes in the picture. Fine-tuned to suit your business needs, we offer 5 different coverage plans namely :
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- Institute Cargo Clause (A)
- Institute Cargo Clause (B)
- Institute Cargo Clause (C)
- Institute War Clause (Cargo)
- Institute Strikes Clause (Cargo)
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PLATE GLASS TAKAFUL SCHEME
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This takaful plan has become more popular now as more buildings or premises ase largely fitted with glass panels. It covers the breakage of fixed glass in commercial and industrial premises, public buildings, business complexes etc. caused by none of these perils stated below :
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- Fire, lightning, earthquake and explosion.
- War and kindred risks
- Riot and civil commotion.
- During transit to or while being affixed to or removed from or during the course of alteration on the premises.
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Minimum takaful contribution for this plan is RM100.
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STORAGE TANKS TAKAFUL SCHEME
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The possibility of damage to storage tanks causing loss of stored liquid from the tank is a very real threat coupled with the fact that rising cost of materials, labour and transport lead to increase of repair and replacement costs. It is quite evident why close consideration be given for the need of this type of takaful.
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The plan covers in respect of accidental damage to the tank caused by bursting, splitting, rapture, collapse and any other accidental extraneous event. The plan also cover the loss of contents of any tank directly arising from the damage. Lastly, the plan also provides cover to the leakage of the tanks contents.
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