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Continental Scale - An international unit of measure for payment of benefits used for accident claims.
(Insurance) Cover - The scope of services that the insurance provider is liable to pay for in case of a valid claim.
Direct Billing (Medical) - This refers to a medical policy where the hospital or medical facility directly bills the insurance provider (instead of the customer having to pay the hospital and file a claim).
Indemnity - An indemnity is a sum paid by an insurer to the insured person / entity by way of compensation for a particular loss suffered by the insured person / entity.
Takaful - A type of Islamic insurance, where members contribute money into a pooling system in order to guarantee each other against loss or damage.
Third Party Liability - Refers to situations where the insurer is supposed to pay for valid claims made by parties other than the insured person / entity.
Third Party Administrator (TPA) - A TPA is an organization that processes insurance claims for a separate entity.
Underwriter - A company or other entity that administers the public issuance and distribution of securities from a corporation or other issuing body.
Mudaraba - A Mudaraba is an investment partnership, whereby the investor provides capital to another part/entrepreneur in order to undertake a business/investment activity. While profits are shared on pre-agreed ratio, loss of investment is born by the investor only. The Mudarib loses its share of the expected income.
Aqad - Legal relationship created by the conjunction of two declarations, from which flow the legal consequences with regards to the subject matter.
Wakala + Mudarabah Model (Hybrid Model) - A combination of the principal – agent (Wakala) and principal – manager (mudarabah) arrangement. Wakala is used for underwriting activities and mudarabah is used for investment activities.
 

 
13 May 2015   Abu Dhabi National Takaful Company P.S.C (“TAKAFUL”) Reports period ended 31 March Net Profit of AED 12 Million
Abu Dhabi National Takaful Company P.S.C (“TAKAFUL”) Reports period ended 31 March Net Profit of AED 12 Million
12 April 2015   Our Head Office has Moved
Our Head Office has Moved
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