Marine cargo Takaful provides coverage to the cargo against the loss or damage that can occur during the process of transportation from the point of origin till final destination.

Various incidents can be reported during the transportation of goods that is carried by sea going vessels, aircraft, train, truck or trailer. Comprising mainly from the grounding of cargo ships, collisions at sea and in air, engine failure, piracy, hijacking & terrorism. These threats reflect significant monetary losses to cargo owners in the absence of the appropriate marine cargo Takaful.

There are many clauses that are being used according to the types of cargo but the most commonly used clauses for cargo carried by sea are as follows.

Institute Cargo Clauses (ICC A) provides protection to the cargo against the most comprehensive set of risks except for few specified exclusions and it is mainly known as "all risks" cover.

Institute Cargo Clauses B & C (ICC B & C) are known as named perils covers because perils covered are specifically mentioned in the clauses. They are best fit to vigorous, second hand or low valued bulk cargoes.

Yes, custom duties can be covered.

General Average is defined as the situation which is declared by the master of the ship when any loss is sustained by the vessel resulting in the delay in completion of voyage. When a GA is declared then cargo owners are required to share the loss amount with the shipping line proportionally.

Cargo is usually transported through vessels, aircraft, rail, truck or trailer. We provide Takaful coverage for all these mode of transportation.

Risk	ICC-A	ICC-B	ICC-C
Fire or Explosion	check	check	check
Vessel/Craft being stranded, grounded, sunk or capsized	check	check	check
Overturning or derailment of land conveyance	check	check	check
Collision of contact of vessel, craft or conveyance with external object other than water	check	check	check
Discharge of cargo at port of distress	check	check	check
General Average Sacrifice	check	check	check
Jettison	check	check	check
Earthquake, Volcanic Eruption or lightning	check	check	cross
Washing Overboard	check	check	cross
Entry of sea, lake or river water into vessel, craft, hold, conveyance, container, lift van or place of storage	check	check	cross
Total loss of any package lost overboard or dropped whilst loading on to or unloading from vessel or craft	check	check	cross
Pirates, Thieves and non-delivery	check	cross	cross
Rough handling	check	cross	cross

These terms are published by International Chamber of Commerce, they indicate the basis of contract and clarify the responsibilities of buyers and sellers in international trading.

In order to obtain Marine Cargo Takaful and determine the rate of contribution, it is very important that customer should give accurate and complete information to insurer. For cargo Takaful following information is considered as very important.

Jettison is the situation where master of the ship after declaring GA throw overboard the certain cargo to rescue the ship and other cargo on board. In this scenario all other cargo owners are required to contribute in the loss occurred except for the cargo owner whose cargo has been thrown.

To take out marine cargo Takaful, you need to contact any branch of EFU mainly with following set of documents.

Under Aviation insurance, coverage is usually provided to the aircraft hull, spares & liabilities.

The usual components of Sum insured for Aircraft are as under:

• Aircraft Agreed Value: The value of an aircraft agreed between an underwriter and owner of an aircraft. The value should be close to the market value.
• Spares: This includes the value of engines, spare parts & equipment to be fitted or to form part of an aircraft.
• Third Party and Passenger Liabilities: This is usually covered through a combined single limit. It includes property and bodily damages to third parties, passengers’ baggage, passengers’ personal articles and cargo.
• Personal Accident: Coverage for crew and passenger in the event of death or injury.

Yes, in Aviation Insurance a warranty is applied called “Pilot Warranty”. Where insurer limits the insured to get its Aircraft flown by a Pilot who meet the eligibility criteria of underwriters.

In Aviation Insurance the value of Hull is usually ascertain on “Agreed Value” basis which means you and insurer mutually get agreed on a certain value of an Aircraft. The agreed value must be close to the market value of same make/model.

Motor Takaful can be purchased for cars, trucks, motorcycles and commercial vehicles. It is a financial agreement between an insured and insurer where insurer gives financial coverage to the insured in return of the premium paid annually.

For buying an Takaful policy, you need to submit your card registration copy and NIC.

The renewal notice shall be sent to you one month prior to the expiry of the policy after which you may contact the relevant branch for renewal of the policy.

By entering the vehicle make and model and sum insured the premium calculator will display the premium amount.

It is a temporary document given to the insured as a proof of Takaful which is valid for 07 days. In this duration the insured can make the payment and then this document is void and the policy is issued.

The policy should be taken in the name of the registered owner of the vehicle.