It was developed to grant industry effective Takaful cover for plant, machinery and mechanical equipment at work, at rest or during maintenance operations. It covers the following:

All machinery and plant

Machinery is covered when ready for commercial operation; in the case of newly installed plant once it has been commissioned and the testing period has been completed successfully.

This Policy applies whether the covered property is at work or at rest, or dismantled for cleaning, overhauling, or of being shifted within the premises, or in course of subsequent re erection;

Covered Perils:

The Operator on behalf of the Participant fund/Waqf Fund indemnifies sudden and unforeseen physical loss or damage, necessitating its repair or replacement and resulting from:

• Fortuitous working accidents such as maladjustment, loosening of parts, failures or faults in protective devices, entry of foreign bodies.
• Tearing apart due to centrifugal forces
• Shortage of water in steam boilers or pressure vessels
• Over pressure or implosion
• Short circuit, over voltage or over current
• Defects or faults in design, material or manufacturing and faults in erection
• Faulty operation, lack of skill, carelessness, malevolence of employees
• Storm

Terms and conditions as per standard policy apply