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FREQUENTLY ASKED QUESTIONS (FAQs)
Starting your own business means taking on some degree of risk. As a business owner, you already have the passion and drive to take on new challenges, but you’ll also need to protect the value of the assets you purchase for your company. Takaful can help you recover when things go wrong. From property losses related to items such as fire or theft, to liability issues should someone sue you or threaten to. With the proper Takaful protection in place, you’ll gain peace of mind.
Takaful Brunei Corporate provides FREE consultation on your business needs to ensure a smooth and convenient process of understanding the risks your business faces and offering you an effective protection package. Takaful Brunei Corporate will help you every step of the way.
The cost of takaful is based on a range of factors including the following:
- The value of the company assets you wish to cover.
- Number of employees.
- Specific risks associated with your industry.
- Your personal risk tolerance and the amount of liability protection you prefer.
At the most basic level, Takaful helps you manage the risk of loss for your business. You would not want to experience a loss that is not under a takaful protection plan. Spend time assessing your operational risks to determine your greatest risk factors.
The demands and opportunities your business faces are constantly shifting. The good news is that there are coverages available to adapt to your needs. As your business grows, offers new products or services, buys new equipment or develops new revenue streams, you may also take on new risks. It’s a good idea to review whenever something significant changes, and at least once per year, to identify overlapping coverage or new areas of risk.
It is a compulsory requirement under the Workmen Compensation Act 1957 that any company employing foreign/local workers that fall under the definition of “workman” must be covered or insured for Workmen’s Compensation Liability to provide compensation to workers in the event of accidents, injuries or death while performing tasks during the course of their employment.
Companies that provides great Human Asset Protection plans such as TBK’s Group Term Life or Group Hospital & Surgical Benefits, can attract the best qualified employees, reduce turnover rates, maintain a healthy & productive workforce. Showing your employees that you care about them, can easily boost their morale.
The loss, compromise, theft of electronic data, business disruption and vulnerability of system infrastructure and network due to malware can have a devastating financial impact on business and organisation’s operations, including the loss of customers, revenue and most importantly the TRUST of your customers. Companies protect themselves against liability from Cyber Security threats and the cost of data recovery.
Takaful Brunei Corporate provides a variety of Human Asset Protection plans such as Workmen Compensation/Employer’s Liability, Group Personal Accident, Group Term Life and Group Hospital & Surgical Benefits. Companies can have consultation to see which coverage best fits their requirements as we cater to business of all sizes.
In the event of a claim, your business will not be compensated the full value of the claim. Any balances of the amount will have to be self-funded. Therefore, it is imperative that provide the appropriate cover without attempting to cut corners.
No. It only covers motor vehicles under personal name. Any business vehicle will have a separate Takaful cover as your business may require the use of cans, buses, rental vehicles, pickup trucks and more.
It is our priority to partner with only the most reliable A-rated Retakaful companies. This gives us the capability to provide prudent underwriting and extensive coverages most customed to your business operations needs at the highest level.
- Choosing The Cheapest Option
- Getting A Takaful Protection That Does Not Fit Your Business Needs
- Failure To Adjust Your Takaful Protection As Your Business Grows
- Not Covering Loss of Income
- Assuming What Your Takaful Covers
- Underestimating Risks
Yes, Takaful Brunei Corporate provides various products to cater to around-the-clock worldwide protection for your employees.
As an employer, you have to ensure the safety of your employee before making a report to Takaful Brunei Corporate within 7 working days attached with a certified medical report from the hospital.
You can protect your business assets with Takaful Brunei Corporate’s Property All risk to cover in the event of theft, burglary and others. You can have a peace of mind knowing all your business assets are well protected.