The type of Takaful schemes offered under the Other Products are as follows:
Subject Matter Covered
• Employee of Participants
• Individual, Students
• Office equipments
• Money in Premise or Transit
Extension of Cover
Extension of cover for all the Other Products Takaful schemes can be arranged and granted subject to underwriting and TBA’s approval.
The cover afforded by this Takaful is very wide and embraces any accident or misfortune not expressly excluded.
As this class is very vulnerable to fraudulent claims, moral hazard is very important and cover should only be given for an important business connection.
This certificate provides coverage for individuals who seek a wider protection than that of a Householders certificate. It usually covers items that are small in size but high in value, e.g.: jewellery, gold and silver articles, watches and the like.
Scope of Cover
If during the Period of Takaful stated in the schedule, the Property shall be lost, destroyed or damaged by:-
• Accidental Damage
Then Takaful Brunei Am General Sdn Bhd (TBA) shall contribute or make good to the participant the amount of such loss, destruction or damage but not exceeding in respect of any of the several item specified in the schedule the Sum Covered set opposite thereto respectively.
Specified items of property against loss or damage by accident or misfortune within the territorial limits defined in the certificate.
• Wear and tear, gradual deterioration, any process of cleaning, dyeing, restoring, repairing or renovating.
• Mechanical derangement or defects.
• Scratching or denting.
• Cracking or breakage of brittle articles.
• Deeds, bonds, bills of exchange, promissory notes, cheques, money, medals etc.
Items covered must be restricted to its premise only. Cover for mobile items should be referred to the Underwriting Department.
Riot or Strike.
The Certificate covers loss of money from any cause (subject to certain exceptions) whilst in specified transits and/or whilst in the Participant’s premises.
Scope of Cover
• Money in the personal custody of the Participant’s authorised employees whilst in direct transit between the said premises and bank(s).
• Money belonging to the Participant or for which the Participant is responsible shall be lost, destroyed or damaged:
• by any cause whilst being conveyed by a messenger and/or employee of the Participant to or from any of the participant’s Premises or contract sites until arrival at any of the Participant’s Premises and/or other places of disbursement and in respect of wages and/or salaries until paid to employees or other wise disbursed.
• by theft from a locked safe or strongroom provided there shall be visible marks made upon the safe or strongroom by tools, explosives, electricity or chemicals or by hold-up while in the premises.
• Any safe or strongroom belonging to the Participant and containing Money is lost, destroyed or damages as a result of theft or attempted theft of such Money, TBA will indemnify the Participant in respect of such loss, destruction or damage.
• Premises: The place where the daily financial transaction are executed or administered
• Money: Cash, bank Notes, Currency Notes, Cheques, Postal Orders and Money Orders
It should be split for all Sections to ensure correct indemnity.
• Infidelity of Employees
• Clerical or accounting errors
• Losses covered under a fidelity guarantee certificate
• Losses from an unattended vehicle
• Losses through confiscation by any Government or Public Authority
• Riot and Strike risks
• Personal Accident to unnamed carrier at BND10.00 per person for a cover of BND10,000.00 Death and Permanent Disablement
Group Personal Accident
The Company presently transacts two types of Personal Accident Takaful scheme essentially to cater for the different needs and demands of our clients.
• Personal Accident Takaful
• Group Personal accident Takaful
Scope of Cover
The certificate compensates the covered Person if he sustains BODILY INJURY caused by VIOLENT, ACCIDENTAL, EXTERNAL AND VISIBLE MEANS. if the covered person’s injury results in DEATH or DISABLEMENT then the Company will compensate according to the Table of Benefits as outlined in the certificate.
• Bodily injury – means injury to the body and excludes injury to feelings.
• Violence – does not imply actual violence but includes any external impersonal cause e.g drowning or inhalation of gas or even undue exertion.
• Accidental – means an untoward event or unlooked for mishap which is not expected or designed. This would also exclude disease or an intentional act of the Participant but would cover negligence
• External and Visible Means – any cause which is not internal and for purposes of this Takaful any external cause would be or deemed to be visible for purposes of the certificate.
• Intoxication- means where a man’s conduct is being influenced by liquor or drugs he has consumed resulting in the disturbance to the balance of his mind or intelligent exercise of his faculties.
• Hazardous sports- water ski jumping, polo, hunting, mountaineering necessitating ropes, or guides, parachuting, racing of any kind other than on foot, wrestling, boxing, motor competitions.
• Use of wood-working machinery driven by mechanical/electrical power
• Racing, speed-trial and testing of vehicles.
• Pre-existing physical or mental defects
• Suicide/self injury
• Disease and sickness
• Intoxication by alcohol or drugs
• Pregnancy or miscarriage or childbirth
• War and kindred perils
• Whilst committing any unlawful act
• Nuclear related risks
Additional Coverage with Contribution Fee
• Amateur sports such as hunting, polo, horseback riding and water surfing.
• Riding in a chartered aircraft or flight not scheduled, but only as a passenger.
• Riot and civil commotion strike
• Repatriation Expenses
• Medical Expenses
Indemnify the Participant (employer) by making good or reimbursement on any direct financial loss caused by any act of fraud, embezzlement and dishonesty committed by their employee.