Tel: +965 1820202 info@gulftakaful.com      

New Project New Product

"Health is blessing,
Valued Most by those deprived of it"

New Project

An illness can be emotionally and financially draining. Accessing the right medical expertise and having the ability to pay for the treatment are major concerns. The reason why at Gulf Takaful insurance company have

Read More Read More

Engineering Insurance

Electronic Equipment Insurance

Policy is designed to cover accidental loss or damage to electronic equipment like computers, telecommunication systems and the like against sudden and unforeseen physical loss or damage , the cover includes the following sections:

1- Material Damage:

Indemnity is provided against unforeseen and sudden physical loss or damage from specific causes in a manner necessitating repair or replacement.

2 - External Data Media:

at the case where the external data media suffer any material damage the Company will indemnify.

3 - Increased Cost of Working:

if material damage covered under Section 1 gives rise to a total or partial interruption of operation of the EDP equipment insured, policy will provide cover for any additional expenditure incurred for the use of substitute EDP equipment not covered under the Policy.

Erection all risk policy

This coverage provides the necessary financial protection to the owners/suppliers and/or contractors who implement the project (including the establishment and installation of plan machines or steel structure) in case it is exposed to a sudden unexpected loss or damage during the installation/inspection/trial or maintenance period requiring repair, replacement or renewal.

This policy compensates the losses or material damage of the insured project including the installation works and/or the other insured properties related thereto up to the insured amount. The policy also insures compensation for the Third Party''''s claims (for the physical injury or the damages of the properties) up to the limit chosen and specified in the policy.

By virtue of the insurance policy, the coverage comprises:

The project including all the works of establishment and construction representing the entire cost of the materials that will be built and all temporary and permanent works that will be implemented in the project including the relevant properties available on the site, in the stores and transported on the road, in addition to the other properties of the owners, equipments and machines on the work site, which are all deemed covered.

Reasonable costs may also be covered for the removal of residues, the consultants'''' fees and the air freight.

Insurance of All Contractors' Risks

This coverage provides the necessary financial protection to the owners and/or contractors who implement a "project" if it is subject to a sudden unexpected loss or damage during execution or maintenance.

This policy compensates the financial losses borne by the subscriber as a result of the loss or material damage of the insured project as they are considered as the works of the contract and the insured properties (relating to the contract itself) in the limits of the insured amount resulting from any risk that is not specifically excepted. The policy also provides a compensation vis-à-vis the Third Party's claims (for physical injury or damages in the properties) to the limit chosen and specified in the policy.

By virtue of the policy, the coverage comprises:

The works of the contract (which may comprise all the costs of the auction included in these works) and all the temporary and permanent works implemented in the "project" including the properties relating thereto and located in the site, stored or transported, in addition to the other properties of the owners (existing properties) including the contractor's equipments and machines and temporary equipments necessary for the construction in the site of the project.

Reasonable costs may be covered for the "residues removal" and the fees of the architects/consultants, air freight, additional and night works.

Machinery Breakdown

This coverage provides the required protection for the owners of all types of machines, mechanical equipments and devices due to the loss/material damage thereof as a result of a sudden unexpected accident during the insurance period.

The policy compensates the financial loss resulting from a sudden unexpected loss or material damage up to the insured amount for each item representing the entire replacement cost, knowing that the insurance coverage shall be based on all the risks in a way that complements the coverage available against the insurance against fire and additional risks.

This type of insurance coverage is granted to:

All machines and related devices during the operation or non operation of the devices except the machines of short period of service and the replaceable tools, filters, disks, sharpening heads, ropes, chains, belts, glass, rubber, wood or ceramic pieces and operation means like fuel and grease.

Contactor Plans and Machinery

This coverage provides protection to the owners implementing the works of the contract/project resulting from the loss or damage of any equipments/machines of the insured.

The policy compensates the financial losses resulting from a sudden unexpected damage/loss incurred by the insured machines/equipments in the limit of the highest insured amount of each item deemed to be a full replacement cost for each item, knowing that the insurance coverage shall be on the basis of all the risks except the losses or damages resulting from the mechanical or electrical breakdowns.

By virtue of the insurance policy, the coverage shall be granted to:

All types of machines, equipments and related facilities temporarily installed in the work sites during the operation, non-operation or dismantled mode of these machines.