TAKAFUL : MARINE TAKAFUL PLANS

DEFINITION

provides cover against loss, damage or theft to the property and interest by maritime perils sea

PERILS

Stranding or collision

Heavy weather

fire

TYPES OF MARINE TAKAFUL SCHEME Marine Hull Certificate

SUBJECT MATTER OF TAKAFUL

TYPES OF MARINE TAKAFUL Vessel (kapal), machinery, and limited

collision liability Cargo ( goods carried on the vessel)

Marine Cargo Certificate Marine Freight Certificate Marine Building Risk Certificate

Freight (angkutan,muatan,pengangkutan) ( money/fee charged for carriage of goods by the vessel) Vessel Under Construction

MARINE CARGO TAKAFUL

Provide

the needed risk coverage for delivering of good via sea. Examples of terms of sales that involve marine shipment are :

FOB Free On Board C & F Cost & Freight Ex Quay

FOB

Free On Board

The risk of loss or damage to the good is transferred to the buyer when the goods pass the ships rail (susur kapal)
Risiko dipindahkan kepada penbeli apabila barang melepasi susur kapal /landasan kapal

C&F

Cost & Freight

Seller pay the costs to bring the goods to the named destination (kos dibyar oleh penjual untuk bawa barang ke tempat yg dinyatakan) Risk of loss or damage to the goods is transferred to the buyer when the goods pass the ships rail at the port of shipment

Ex Quay
Seller makes goods available to the buyer on the quay (bagan) (wharf) at the destination named in the sales contract Seller bear the full cost and risk involved in bringing the goods there.

TYPE OF MARINE CARGO COVER

T.L.O ( Total Loss Only) W.A. Plus T.P.N.D ( With Average + Theft, Pilferage (kecurian) & NonDelivery

Covers total loss only of the Total loss and partial loss of insured interest caused by any package(s) occuring the perils of the seas. during loading, partial losses are not transshipment or discharge. covered Inclusive the risk of theft, pilferage and non-delivery.

CHARACTERISTIC OF MARINE TAKAFUL PLAN / INSURANCE POLICY Cover Against

Loss of or damage to property and interest by maritime perils which include perils of the sea heavy weather standing or collision fire and like perils The following may form the subject matter of takaful / insurance: Hull and machinery: Legal liability arising out of collision Cargo and freight With the exception of the collision liability which is covered under a marine hull certificate, different marine schemes are generally used to cover the different subject matter of takaful.

Subject Matter Of Takaful/Insurance

COMPANY OFFERED MARINE TAKAFUL

Kuwait

Finance House - Pak Kuwait Takaful Company Ltd ( PKTCL) Hong Leong Bank ( China) - Hong Leong Tokio Marine

BURGLARY TAKAFUL