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Corporate Website > PRODUCTS > General > Corporate/Organization
 
Corporate/Organization


 

TAKAFUL mySME
The Takaful mySME plan offers your organisation more than just comprehensive protection but peace of mind – whilst you focus to grow your business. With Takaful mySME, you can now enjoy the best of savings while simultaneously, increase business productivity and gain better cash flow management.
Protection + 15% No Claim Rebate
1) Enjoy Protection + 15% No Claim Rebate or cash back (i.e. if no claims incurred during the coverage period and is dependent on the company’s performance).
2) Safeguard your business with the protection coverage that you truly need with the best rates in town.
3) Experience a tailor made plan that addresses your business needs or sector and enjoy great savings to elevate your business to the next level, i.e. heightened productivity and improved cash flow.
4 Main Sectors

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ALL RISKS TAKAFUL
Personal individual or business owner with the intention to get takaful coverage on business or non-business related items or equipments should consider the benefit of participating in this plan. The cover afforded by this plan is very wide and encompasses any accident or misfortune not expressly excluded.
Because of its very wide and general behavior, it is very vulnarable to fraudulent claim, hence the need to specifically define the items to be covered.
Please check with our personnel for detailed information at your nearest Takaful Malaysia office.

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BURGLARY TAKAFUL
A plan that provides cover against loss of or damage to the subject matter due to theft whilst contained in the business or trade premises. This plan will also cover the damage to your premises due to forcible entry or exit accompanied the event of theft.
However, you as the business owner should already have participated in our Fire Takaful Plan before applying for this plan.

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BUSINESS INTERRUPTION (LOSS OF PROFIT) TAKAFUL
This plan is designed to complement our Fire Takaful's limitation. The plan provides indemnity in the event of loss of the following :
  • Net profit.
  • Standing charges i.e. expenses which continue to exist as usual level even though business had been interrupted due to the destruction or damage of premise, machinery or plant by fire e.g. Motor Vehicle expense, Depreciation etc.
  • Increased cost of working e.g overtime, rental of alternative premises or machinery etc.

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EMPLOYER'S LIABILITY TAKAFUL
Similar to the WORKMEN'S COMPENSATION TAKAFUL , liability may be attached to you as an employer should injury or disease caused by accident to your employee occured during the course of employment.
For categories of emplyee not protected by the WORKMEN'S COMPENSATION ACT'S or SOCSO, liability at law would still exist and you may obtain indemnity under the EMPLOYER'S LIABILITY TAKAFUL.

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FIDELITY GUANRANTEE TAKAFUL
In the normal course of business transaction, you as an employer invariably has to entrust money, securities, goods etc to your employee or delegate monetary responsability to the employee. In the event that employee is dishonest, you would most certainly suffer financial loss. To protect this from happening, this is the plan for you. Minimum takaful contribution is RM100.

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FOREIGN WORKER COMPENSATION TAKAFUL
This plan is definitely for you if you are an employer with foreign workers working under your administration. Under the plan, foreign workers will be financially compensated in the events of accident resulting in death or bodily injury.
In addition, the plan also provides coverage for Repatriation Expenses and Personal Accidents outside working hours.

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GROUP PERSONAL ACCIDENT TAKAFUL
Derived from our PERSONAL ACCIDENT , we have come out with a product, GROUP PERSONAL ACCIDENT TAKAFUL , to cater for the different needs and demands of the market. This plan compensates a group of individuals including yourself should you suffer bodily injury caused by violent, accidental, external and visible means. If the injury results in death or disablement then we will compensate according to the Table of Benefits as outlined in the certificate, This plan is suitable for business or social organization and even for college students,
For short term coverage of a maximum 31 days, you can opt for our GROUP PERSONAL ACCIDENT TAKAFUL (SHORT TERM).

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MONEY TAKAFUL
Suitable for business owner running high cash transaction, this plan covers against loss of money whilst in transit and also money kept in premises. In the event of the money is lost, destroyed or damaged as a result of theft, Takaful Malaysia will indemnify you in respect of such loss, destruction or damage.

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PROFESSIONAL INDEMNITY/MALPRACTICE TAKAFUL
A plan designed to suit lawyers, architects, engineers, surveyors in accountants etc. for coverage against liability caused by professional malpractice. The plan will cover you or the predecessors in your business or any person employed by you or the predecessors in your business.

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PUBLIC LIABILITY TAKAFUL
This plan is designed to protect you as the owner of your business against your legal liability to pay compensation for accidental bodily injury to or accidental damage to the property of the public caused by or through your negligence or the negligence of your employees. The liability mentioned also includes legal charges and expenses.

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SCHOOL CHILDREN PERSONAL ACCIDENT TAKAFUL
This plan is specially designed for the Ministry of Education to provide cover for all students of government-aided primary and secondary schools. Scope of cover for this plan is as follows :
  • Accidental death.
  • Permanent total disability due to accident.
  • Severance of LIMB or loss of sight due to accident.
  • Funeral expenses.
  • Daily cash allowance for hospitalisation.
  • Allowance for wheel chair
Similar to this plan is our RELIGIOUS SCHOOL PERSONAL ACCIDENT TAKAFUL.

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WORKMEN'S COMPENSATION TAKAFUL
If any of your employees sustain injury because of accidental or disease in the course of employment, it is required by law that you provide them compensation. This is why you need our WORKMEN'S COMPENSATION TAKAFUL, where we will indemnify against all such sums and will be responsible for other related costs and expenses.

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BOILERS & PRESSURE VESSEL TAKAFUL
As boilers & pressure vessels may be covered together with other machines under our MACHINERY BREAKDOWN TAKAFUL, you may also want to have it covered by its own with our more specific product, the BOILERS & PRESSURE VESSELS TAKAFUL.
The plan covers :
  • 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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CONTRACTOR'S ALL RISKS TAKAFUL
This plan is usually sought by contractors, in relation to the requirement under a contract which normally specifies the need to have adequate cover or protection for building under construction.
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.
Perils covered :
  • 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
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.
Items damaged or destroyed must be due to a sudden unforseen circumstances, whereby they no longer able to function properly. The cover is divided into three sections :
  • material damage
  • data media
  • increased cost of working

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ERECTION ALL RISKS TAKAFUL
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.
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.
Perils covered :
  • 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
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
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.
This could save you hundreds of thousands of ringgit because sometimes a loss confined to a single machine may produce a total loss situation.
The sudden and unforeseen damage includes :
  • 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 excessive 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.
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
Delivering goods via sea involves a huge risk of :
  • Fire or explosion
  • Stranded, grounded sunk or capsized of vessel
  • Overturning or derailment of land conveyance
  • Collision of vessel
  • Natural disasters
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 :
  • 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
This takaful plan has become more popular now as more buildings or premises are 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 :
  • 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.
Minimum takaful contribution for this plan is RM100.

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STORAGE TANKS TAKAFUL
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.
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 covers 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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FIRE AND ALLIED PERILS TAKAFUL
Fire Takaful provides protection for losses to property such as buildings, contents, furniture, plant and machinery as well as stock. The basic fire certificate covers losses and/or damages caused by fire, lightning and domestic gas explosion. Participant can extend the basic fire certificate to cover loss or damage caused by the extraneous perils.

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MEDICAL MALPRACTICE TAKAFUL
Medical Malpractice Takaful provides cover to a medical establishments or Hospital. It is not meant to provide indemnity to the individual doctors but to the hospital itself and all other para-medical staff who are employed by the hospital. The Certificate will indemnify the Participant against all losses arising from the following:

  • Accidental bodily injury to any patient whilst under the care of the Hospital.
  • Any legal expenses incurred by the Participant in defending legal proceedings with the Company's written consent.

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MARINE HULL TAKAFUL
A comprehensive range of products to cover loss/ damage to the vessel, from Hull and Machinery cover on an All Risks or Restrictive basis to War and Strikes risk cover as well as specialist cover for other marine options and interests.

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ENERGY TAKAFUL
Energy Takaful is a sector which covers a wide range of activities pertaining to the oil and energy industries.

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MOTOR TAKAFUL
This Certificate provides covers against liabilities to other parties for death or bodily injury, damage to other parties' property, and accidental or fire damage to your vehicle or theft of your vehicle. The types of coverage available are:

  • Third Party Cover - Indemnifies the Participant against legal liability arising from both bodily injury and property damage to third party.
  • Comprehensive Cover - Provides covers as in "Third Party Fire & Theft Cover", plus physical damage to the Participant's vehicle following accidental collision or over-turning.

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DETERIORATION OF STOCK TAKAFUL
The Deterioration of Stock Takaful is designed as a cover against deterioration of stock in cold storage due to a breakdown of the refrigerating plant / machinery as a result of any material damage to the refrigerant plant which is indemnifiable under the Engineering Takaful.

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CIVIL ENGINEERING COMPLETED RISK TAKAFUL
This Takaful is designed to provide comprehensive cover for completed civil engineering structures. Coverage is only granted for material damage to the structures insured and only repair costs are indemnifiable.

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DIRECTORS AND OFFICERS LIABILITY TAKAFUL
Directors' and Officers' Liability Takaful is arranged to protect any persons who holds the office of a director or within the management of a company. Directors and Officers owe a duty of care to their companies and any breach of duty may cause damages to the company as they can be sued and held liable for large amounts of damages. Liability may arise out of lack of care and skill in the performance of a director's duties and often it is the shareholders who will bring an action in the name of the company.

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FOREIGN WORKERS TAKAFUL GUARANTEE
If you are an employer of your foreign workers, this is the plan which you are obliged to have as a guarantee to cover the repatriation expenses in the event of your worker is required by the authorities to be sent back to his/her country of origin during his/her course of stay in Malaysia. It is a guarantee required by the Immigration Department from you as a security deposit for the employment of foreign workers (excluding Domestic Maid) under Regulation 21 of the Immigration Regulations. The reasons of sending back the foreign workers to their origin country could arise from the following situations;
  • Breach of Immigration Act
  • Your worker is caught involving in illegal and illicit activities such as drug, immoral work, etc
  • Your company goes into liquidation and is unable to provide the return passage for the workers
Click here to view/print the Product Disclosure Sheet.

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Syarikat Takaful Malaysia Berhad (131646-K) is a company licensed under the Takaful Act 1984 and regulated by Bank Negara Malaysia.
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