West Africa Takaful Insurance Certificates

Our Accident or Group Personal Accident Takaful provides compensation or benefits against accidental death and or bodily injuries to the participant(s) caused solely by violent external and visible means. Contribution depends on the occupational hazard and compensation based on the percentage of disability and or death benefit.

Our Burglary Takaful (Business and Private Premises) provides protection against the incidence of theft as a result of violent forcible entry or exit from the premise. Damages to the premise as a consequence of gaining entry to or exit from are also indemnifiable.

Our Contractors/Erection All Risks Takaful provides indemnity against contract works being carried out as well as Plant and Machinery and Third Party Liability. Essentially, it is an All Risks cover sub-divided into three sections i.e.

Contract Works (covers loss/damage to the works up to completion)
Plant and Machinery (covers loss/damage to plant & machinery used in construction)
Third-Party Liability (covers liability arising out of works)

Our Marine/Aviation Takaful Certificate is divided into

Marine Hull & Machinery
Marine Cargo
Aviation Hull & Machinery
Aviation Cargo

Marine/Aviation Hull and Machinery indemnifies the Participant against loss/damage to Hull
of Vessel as well as liability incurred therefrom.

Marine/Aviation Cargo provides indemnity to the participant against loss/damage to cargo depending on the extent of cover i.e. whether All Risks (Comprehensive) or Named Perils. Either way, our Marine/Aviation Takaful Certificate gives adequate protection.

This Takaful becomes operative following the failure of your machines be it refrigerators, generators etc. as a result of which goods such as perishables etc. deteriorate and losses their economic value. Our Stock Deterioration Certificate, therefore, indemnifies the participant against losses to goods following Machinery Breakdown and or failure of your machines.

Despite the best internal control measures in any corporate activity, mishaps like misappropriation and embezzlements by employees do take place. Fidelity Guarantee Takaful Insurance Policy is specially developed to protect employers from such exposures.

Our Fidelity Guarantee Takaful Certificate provides protection against acts of dishonesty or fraudulent acts of Employees of your business organization. The Certificate indemnifies the participant against embezzlement of Company Funds by Named Employees or Named Positions or on a Blanket Cover basis i.e. all Employees regardless.

The Hajj & Umrah Takaful covers or indemnifies the Participant in respect of illness and or
accidents that require Medical Expenses/Attention and Hospitalization as follows:-

Medical, Hospitalization, Pharmaceutical expenses, Surgical expenses US$ 15,000.00

Compensation for in-flight loss of checked-in baggage US$ 500.00/US$ 1000.00

Accidental Death US$ 2,000.00

Permanent Total Disability US$ 5,000.00

Loss of Limb US$ 2,500.00

Personal Liability, Legal Fees and Bail Bond US$ 20,000.00

The TPA Policy (as it is commonly referred to) like the Personal Accident Takaful protects against accidental death and accidental bodily injuries from the time you board the commercial aircraft to your destination up to the time you disembark the aircraft upon your return home or country of residence.

Cancellation and curtailment expenses are additions to the certificate as well as loss of baggage as agreed before your travel.

As Contractors our products mentioned below are specially designed to suit your
Takaful (Insurance) needs for the smooth and successful operation of your business.

Bid Bond
Advance Payment Bond
Performance Bond
Retention Bond

Bid Bond
This is normally the first bond that a contractor would need from a Takaful operator (Insurance Company) in respect of a contract. It is mostly required when the contractor is submitting his bid
for the award of a contract and covers the following conditions:

If the Bidder withdraws its bid during the period of bid validity specified by the Bidder on the Bid Form

If the Bidder, having been notified of the acceptance of its Bid by the Principal during the period
of bid validity:
fails or refuses to execute the Contract
fails or refuses to furnish the performance security

Fails to correct errors

b) Advance Payment Bond
When a contract is awarded to the Contractor the next guarantee that the contractor may need is the
Advance Payment Bond, which the contractor is required to submit to the principal as a security to enable him to take advance to start work if he does not have the funds from his own account and it is normally a percentage of the contract sum, which is recovered by the principal as the work progresses until he recovers the whole amount.

c) Performance Bond
This is another guarantee that the contractor would need in addition to the Advance Payment Bond. It guarantees the contractor’s performance as a security for compliance with his obligation in accordance with the contract, and it is normally valid until the date of issue of the certificate of final Acceptance of the Contract.

d)Retention Bond
This Bond provides guarantee for the contractor during the defects liability period to enable him collect the retention amount if any and it is normally for a period of one year depending on the agreements in the contract document.

Our Machinery Breakdown Takaful indemnifies the participant against loss/damage to the participant machinery consequent upon sudden unforeseen physical loss or damage to your machinery.

Our Motor Takaful Certificate is divided into two types namely:-

Comprehensive Cover:- This as the name implies is the widest form of cover providing indemnity for damage to your vehicle and the vehicle of a third party as well as liability incurred whilst using your vehicle

Third-Party Cover:- This cover protects you from liability incurred as a result
of damages caused to third party property, bodily injuries and or death in the cause of using your vehicle.

Our “All Risks” Takaful as the name implies covers every conceivable type of risks (except
the usual exclusions such as war and war like operations) and particular exclusions as agreed
at inception of Certificate. It provides the widest form of takaful coverage.