Engineering | Takaful Pakistan Limited | Shariah Insurance Pakistan
 

Contractors' All Risks Takaful

Contractors’ all risks policy offers comprehensive and adequate protection against any accidental mishap in connection with the execution of a building or civil engineering project. It covers unforeseen and sudden physical loss of or damage to contract works, construction plant and equipment and/or construction machinery against risks such as fire, lightening, explosion, earthquake, landslide, malicious damage, storm, flooding, lack of skill, incorrect supervision, theft and whatever cause not specifically excluded. The cover may extend for insured’s surrounding property, third party property damage and bodily injury, clearance of debris, extra cost of overtime, express delivery or air freight in connection with repairs or replacement.

 

Electronic Equipments Takaful :

Electronic Equipment policy gives the widest possible cover appropriate for the exposure of electronic equipment to every day operational hazards as well as catastrophic losses. It provide cover against losses arising from unforeseen and sudden physical loss or damage to electronic equipments against risks such as fire, lightning, explosion, falling aircraft, short-circuit and other electrical causes, design, manufacturing, assembly and erection faults, defects in casting and material, workshop errors, bad workmanship, faulty operation, lack of skill, malicious acts of workmen, burglary etc. Policy may extend to cover external data media including magnetic discs & tapes, diskettes and the information stored thereon.

 

Computer All Risks Takaful :

Technology getting more advance day by day, especially in the field of computers where we are facing high values concentrated in small spaces with delicacy and susceptibility to damage. Computer all risks policy covers unforeseen and sudden loss of or damage to computers from any accidental cause except those specifically excluded in the policy whilst at work or at rest or while being dismantled for the purpose of cleaning, inspection and overhauling or subsequent re-erection.

Boiler and Pressure Vessel Takaful :

A boiler stores up tremendous energy which, on being suddenly released by explosion, causes this extensive damage and injury. The Boiler and Pressure Vessel policy covers Boilers and Pressure Vessels against explosion and collapse or distortion by bending or crushing caused by steam or fluid pressure. The policy may extend to cover the damages to surrounding property, liability to third parties and legal expenses where legal proceedings in connection with a claim have been defended.

 

Machinery Breakdown Takaful :

Most plant and machinery form a sizeable proportion of the capital outlay of any industrial concern. This plant and machinery is exposed daily to operational hazards. Machinery breakdown policy cover unforeseen and sudden physical loss or damage in respect of risks such as defects in casting & material, faulty design, bad workmanship, carelessness, physical explosion, short circuit, lack of skill, storm, falling, impact, collision etc. The cover may extend for participant’s surrounding property, third party property damage and third party bodily injury.

Electronic Equipments Takaful :

Electronic Equipment policy gives the widest possible cover appropriate for the exposure of electronic equipment to every day operational hazards as well as catastrophic losses. It provide cover against losses arising from unforeseen and sudden physical loss or damage to electronic equipments against risks such as fire, lightning, explosion, falling aircraft, short-circuit and other electrical causes, design, manufacturing, assembly and erection faults, defects in casting and material, workshop errors, bad workmanship, faulty operation, lack of skill, malicious acts of workmen, burglary etc. Policy may extend to cover external data media including magnetic discs & tapes, diskettes and the information stored thereon.

 

Contractors' Plant and Machinery Takaful :

Plant and machinery are widely in use in these days. Contractors’ Plant and Machinery Policy cover loss or damage occurring at work, at rest or during maintenance operations of contractors' plant & machinery against all risks such as fire, lightning, explosion, theft, malicious damage, impact, collision, overturning etc. Cover may extend for the extra cost of overtime and holiday rates of pay, express delivery or air freight in connection with repairs or replacements.

Loss of Profit Following Machinery Breakdown Takaful :

When a key item of machinery in a factory breaks down, the owner is faced not only with an expensive repair but also a continuing interruption of his business. With increasingly sophisticated machinery and longer delivery periods from makers, any such interruption is a cause of great concern to the owners, especially when the cash flow dries up, standing charges are not met, wages remain to be paid and creditors and shareholders are looking for a profit. To overcome all these situations, Loss of profit policy provides protection in respect of loss of gross profit to the business following an accident to the machinery. This loss is measured by comparison of the turnover with the comparable position in the previous twelve months, after allowing for trends in the business and other relevant factors. Increased cost of working incurred to save a loss of gross profit is also covered.