Looking for protection against risks faced by the Construction Project, Installation Project, Machines and Equipment in project operation. Our Engineering Takaful cover is backed by underwriting professionals who will help to maintain the momentum of your business – minimizing your downtime to help complete projects on budget and schedule.

Our Engineering Takaful covers include:

Contractor’s All Risks (CAR)

Comprehensive and adequate protection against accidental physical loss or damage in respect of the contract works, construction plant, equipment and machinery, as well as against third-party liability in respect of bodily injury and/or property damage arising in connection with the execution of a construction project.

Key Features:

This policy consists of two sections to cater for all contingencies associated with contract works:

• Material Damage – covers loss or damage to contract works and other related facilities.
• Third Party Liability – covers legal liabilities to third parties arising out of accidental bodily injury or property damage in connection with contract works.

CAR Takaful protection will also contain maintenance cover after completion of construction if any

Erection All Risks (EAR)

Comprehensive and adequate protection against accidental physical loss or damage in respect of Electro-mechanical, machinery, plant and steel structures and similar kind of erection projects, as well third-party claims in respect of bodily-injury and/or property damage arising in connection with the execution of an erection project and including loss or damages during testing or commissioning

Key Features:

This cover consists of two sections to cater for all contingencies associated with contract works:

• Material Damage – covers loss or damage to contract works and other related facilities.
• Third Party Liability – covers legal liabilities to third parties arising out of accidental bodily injury or property damage in connection with contract works.

EAR Takaful protection will also contain maintenance cover after completion of project if any

Contractor’s Plant & Machinery Takaful

Comprehensive and adequate protection for Contractor’s Plants, Machinery and Equipments against sudden and unforeseen physical loss of or damage to the insured items, necessitating their repair or replacement

Key Features:

This policy is designed for Mobile Plant, Equipment and Machinery used in construction sites against sudden, accidental and unforeseen loss or damage.

Electronic Equipment Takaful

This policy covers Electronic or Electrical Equipment against any sudden and unforeseen physical loss or damage.

In addition to loss or damages to the equipment itself, coverage can include the following:

• External Data Media:

  This section cover loss to External Data Media inclusive of the cost of reprocessing and retrieving lost information stored.

• Increased Cost of Working:

  Additional expenditure incurred on hiring or using substitute EDP equipment, transport charges for personnel, their accommodation expense away from their base, night work or work on public holidays appropriately.

Key Features:

• Get comprehensive and adequate protection against all the risks associated with sophisticated electronic equipment like computers, Communication facilities, Lighting and navigation facilities and research equipment etc.
• Material damage cover is provided on all risks including Fire, lightning, explosion, Smoke, soot, corrosive gases, Water and humidity, Failure of air conditioning, Short circuit and other electrical causes.

Deterioration of Stocks Takaful

This type of policy is issued in combination with Machinery Breakdown policy, and covers Deterioration of Stock kept in cold storage due to breakdown of refrigerating machinery.

Key Features:

• This policy covers Deterioration of Stocks in refrigerated cold rooms/chambers following a Machinery Breakdown incident (and subsequent claim).
• You must have Machinery Takaful Protection to avail this product.

Boiler & Pressure Vessel (BPV) Takaful

The most competitive BPV Takaful in the market

Key Features:

• This policy covers you against damage (other than fire) to any boiler or pressure vessel.
• This includes coverage for liability on account of fatal or non-fatal injuries to any persons other than the Insured entity’s own employees or workmen or members of the Insured entity’s family and loss caused by the explosion or collapse of any boiler or pressure vessel whilst in the course of ordinary working.

Advance Loss of Profits (ALOP) Takaful

Protection against Delay in Start-Up (DSU) for your business

Key Features:

• This policy indemnifies the actual loss of gross profit sustained as a result of delayed commencement of business operation caused by an accident covered under the Contractors’ All Risks policy/Erection All Risks policy and provides indemnity for standing charges (continuing business expenses).
• This also includes salaries and wages paid to employees plus the net profit, and the increase in cost of working, i.e. the additional expenditure necessarily and reasonably incurred for avoiding or diminishing a reduction in turnover, revenue or rentals.
• The sum insured is the gross profit (Cost minus expenses) obtained from the turnover of goods produced or handled, services rendered or revenue or expected rentals achieved.
• The period during which the Takaful will make good losses is defined as the cover period, which is determined by the insured entity depending upon the replacement period for the building or plant insured.