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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

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Marine & Aviation

Marine Cargo Insurance

We recommend this policy to companies/traders who are frequent shipper or importer of goods. The policy covers all the Insured shipments or cargoes subject to periodic declaration of shipments, whether the goods are shipped by sea, air, rail or road. The Assured can choose among the following coverage which are the most commonly used in the Arabian Gulf.

"All Risks" Institute Cargo Clauses "A":

The shipment is covered against physical loss or damage from the moment the goods leave the supplier's warehouse or premises until the goods are delivered unto the Assured warehouse or the expiry of 60 days after completion of discharge from oversea vessel. All transit damages are covered except for few "non-fortuitous" in nature exclusions such as wear & tear, fraud etc.

Specific Peril Cover under Institute Cargo Clauses "B":

This cover respond only to specific risks most commonly encountered during transit of the cargo from the Supplier's warehouse to the Consignee's premises such as fire & explosion, grounding /sinking/capsizing of carrying vessel, overturning of land conveyance, collision of vessels, discharge of cargo at port of distress, earthquake/volcanic eruption/lightning, general average sacrifice, jettison or washing overboard, entry of water into cargo hold/container/storeroom, total loss of package lost overboard whilst loading on to or unloading from vessel. The policy exclusions are the same as the ICC "A" However, the deliberate damage/destruction of the shipment by wrongful act of any person(s) is part of the exclusion. The duration of cover is the same as "A".

Specific Peril Cover under Institute Cargo Clauses "C":

This cover respond only to specific risks as in Clauses "B" However, the risks of earthquake/volcanic eruption/lightning, entry of water into cargo hold/container/place of storage and total loss of package lost overboard whilst loading on to or unloading from vessel is not covered. The policy exclusions are the same as ICC "B". The duration of cover is the same as "A" The premium on this cover is lower than the cover under Institute Cargo Clauses "A" or "B".

Total Loss Only:

This type of cover respond to the claim only when the entire shipment or the entire cargo insured is physically destroyed, irretrievably lost (i.e. vessel sinking etc), or the repair cost in making good the damages sustained is higher than the entire value of the shipment. TLO policies are usually cheaper than regular policies and are customarily used to cover shipments of second hand goods and low value cargo such as metal scraps, used goods etc.

The coverage above can be further extended to cover War Risks and Strikes, Riots and Civil Commotions.

The above covers are the most commonly used in the GCC market to date, however, further specific cover can be tailored to our Clients need upon request.

Gulf Takaful

For shipper or importer who only have a few shipments a year. Individual policy is issued to shipment in accordance with the Client''''s need either for broad "All Risks" of physical loss or damage to the shipment as shown above or Specific Peril policy under ICC "B" or "C" or Total Loss Only cover.

The coverage can be further extended to cover War Risks and Strikes, Riots and Civil Commotions

The above covers are the most commonly used in the GCC market to date, however, further specific cover can be tailored for our Clients need upon request

Gulf Takaful

This policy covers frozen food whilst being shipped in refrigerated containers from the freezing works or cold store of the supplier to the consignees place of storage or cold store . The cargo is covered against loss or damage resulting from variation in temperature, fire or explosion, carrying vessel being stranded, grounded or sunk, collision, overturning of land conveyance, discharge of cargo at port of distress, including general average and salvage charges. The policy exclusion are "non-fortuitous" in nature such as wear & tear, fraud, vessels owners financial default , etc.

The coverage can be further extended to cover War Risks and Strikes, Riots and Civil Commotions

Gulf Takaful

This policy covers frozen meat whilst being shipped in refrigerated containers from the freezing works or cold store of the supplier to the consignees place of storage or cold store . The policy covers all risks of loss or damage except against specific exclusions of mostly non-fortuitous events such as willful misconduct of the Assured, delay, insufficiency or unsuitability of packing etc.

A lesser coverage for frozen meat shipments limiting cover for loss or damage to meat cargo caused by breakdown of refrigerating machinery to over 24 hours and other specific perils can be issued at lesser premium level.

The coverage can be further extended to cover War Risks and Strikes, Riots and Civil Commotions

Gulf Takaful

Marine Hull Insurance
Covers Vessel''''s Hull, Machineries and Third Party Liabilities

This insurance covers the vessel''''s hull, machineries, nautical equipment, fixtures and fittings for loss and/or damages against the perils of the seas (i.e. heavy weather, lightning, tsunami, volcanic eruption, sinking, grounding etc). The cover also includes machinery or equipment breakdown, fire, explosion, violent theft, piracy, jettison, collision with other vessels, contact with dock or harbor, accident in loading & discharging, contact with aircraft, expenses for salvaging the vessel in the event of stranding or sinking, general average expenses and expenses reasonably incurred for preventing and minimizing loss or damage to the vessel.

Additional cover can be provided to insure the vessel for Loss of Hire and War Risks.

Further specific marine hull cover can be tailored to our Clients need upon request

Gulf Takaful

Protection and Indemnity (P&I) is an insurance cover that protects the vessel and its Owners/Operators against legal liability for third party property damage, bodily injury and death resulting from the operation of the insured vessel. The policy provides liability protection against injury/illness/loss of life as direct result of the insured's vessel's operation. The policy further covers medical and other expenses resulting from the injury, illness or loss of life of a crew member, collision with other vessels or stationary structures, loss or damage to the property of others not on board the insured vessel, wreck removal and pollution liabilities, payment of fines and penalties and the cost involved in the investigation and defending claims and lawsuits.

Coverage can be tailored to the Assured needs. The policy can be extended to include cargo legal liability, liability protection for passenger's baggage and personal effects and the expenses incurred with getting the crew members back home and the crew corresponding lost of wages.

Gulf Takaful

This insurance covers yachts and pleasure boats hull, machinery, gear and equipment against the perils of the seas/ rivers/lakes. The policy further cover the vessel against fire, jettison, piracy, earthquake, volcanic eruption, lightning, contact with dock/harbor/aircraft/land conveyance, malicious acts, explosion, theft of the entire vessel or her boats. The vessel is covered against the aforementioned perils whilst she is at sea, inland waters, in port, docks, marinas, on the hard or mud, at place of storage ashore, including lifting or hauling, while being moved to shipyard or marina, whilst dismantling, fitting out, overhauling, normal maintenance or whilst under survey.

Further specific yachts & pleasure boats cover can be tailored to our Clients need upon request.

Gulf Takaful

Marine Liability Insurance

This insurance covers the Owners of yachts and pleasure boats against civil liability arising from third party injury or third party loss/damage to property directly caused by the use or operation of the yacht and/or boat. The company provides the Owners with tailored third party liability coverage to suit their needs.

Gulf Takaful

Gulf Takaful Insurance Company provides specialized insurance for companies operating in transport, shipping and logistics fields for coverage against public and contractual liability arising out of loss or damage to the cargo or goods whilst in their care, custody and control. The policy further covers accidental personal injury to any person, accidental loss of or damage to property and accidental obstruction loss of amenities, trespass nuisance or interference with any right of way, air or water.

Gulf Takaful

Through Gulf Takaful Insurance especial relationship with the most reputable Brokers and Aviation Insurance Companies, the company provides the best insurance coverage for aircraft hull.

Gulf Takaful

NB

The concise policy coverage above is a matter of information only. The insurance cover afforded by the policy is subject to the terms, conditions and exclusions of such policy.