Abu Dhabi National Takaful Business Insurance

With a paid-up capital of AED 100 million, it was listed on the Abu Dhabi Securities Exchange (ADX) in April 2005. It holds the highest rating from A.M. Best among Takaful operators globally and ranks highly among conventional insurance companies in the region.

Abu Dhabi National Takaful Business Insurance offers a diverse range of products, including -

• Fire Insurance
• Marine Cargo Insurance
• Aviation Insurance
• Engineering Insurance
• Workmen’s Compensation Insurance
• Family and Health Takaful

To stay competitive, the company regularly reviews its offerings and seeks independent assessments from international experts to align with global best practices.

Types of Abu Dhabi National Takaful Business Insurance

Let’s discuss the top Abu Dhabi National Takaful business insurance policies -

1. Property Insurance

What is Property Insurance?

This type of Abu Dhabi National Takaful business insurance offers comprehensive protection for your physical assets against any unforeseen damage or losses. It can include buildings, equipment, inventory, and other tangible property. The policy typically covers risks such as -

• Fire and Natural Disasters: Protection against losses caused by fires, hurricanes, floods, and earthquakes
• Theft and Vandalism: Coverage for losses due to burglary or damage from vandalism
• Liability: Financial protection against claims resulting from injuries or damages on business premises

Property Insurance Plans —

1. Property All Risks 
2. Business Interruption
3. Fire and Allied Perils 

1- Fire and Allied Perils Insurance

This Abu Dhabi National Takaful business insurance protects your business from risks associated with fire and other related hazards, providing financial coverage for damages to property. It offers businesses a broad safety net against significant threats that could disrupt operations and result in substantial financial loss.

Additionally, coverage options are available upon request to tailor the policy to your business needs.

Comprehensive Risk Protection —

Primarily protects against losses caused by:

• Fire
• Lightning
• Earthquakes
• Storms
• Floods
• Impact damage 
• Malicious actions

2- Property All Risks 

This Abu Dhabi National Takaful Business plan is designed to protect against physical loss, destruction, or damage to insured property during the policy period, subject to specific terms, conditions, and exclusions. This way, your assets are protected against all damages. 

Key Features

• Protection Against Various Risks: Covers accidental damage, theft, and other unforeseen events, ensuring extensive financial protection for businesses.
• Comprehensive Coverage: Offers broader protection compared to standard Fire and Allied Perils insurance, covering a wide range of potential risks.
• Customisable Policies: Tailored to meet the unique needs of various professions and industries, allowing for adjustments based on specific requirements.

3- Business Interruption Insurance

This Abu Dhabi National Takaful business insurance protects your business against financial losses resulting from unforeseen events that disrupt operations.

Key Features:

• Optional Add-On: Available as an enhancement to Fire & Allied Perils or Property All Risks Takaful policies
• Financial Protection: Covers loss of net profit and ongoing operational expenses (standing charges) during a disruption
• Extended Indemnity Period: Provides coverage for up to 18 months following a valid claim to support business recovery

2. Engineering Takaful

This type of Abu Dhabi National Takaful business plan protects construction projects, installation projects, machinery, and equipment used against a variety of risks. Engineering Insurance helps you maintain the momentum of your business by minimising your downtime to help complete projects on budget and schedule. 

Contractors’ All Risks

Contractors’ All Risks Insurance provides extensive coverage for accidental physical loss or damage related to construction projects. This Abu Dhabi National Takaful business insurance safeguards contract works, construction plants, equipment, and machinery, while also covering third-party liabilities.

Coverage Details:

1. Material Damage

• Protection Against Loss: Covers loss or damage to contract works and related facilities during construction
• Comprehensive Support: Ensures that any accidental damage to materials or structures is financially protected

2. Third-party Liability

Offers financial protection for any property damage or bodily injury caused to third parties in connection with contract works.

2- Erection All Risks

This type of Abu Dhabi National Takaful business insurance plan provides comprehensive coverage for machinery, plants, and steel structures involved in erection projects. 

Coverage Details:

• Safeguards machinery and plants during the erection process, covering accidental loss or damage
• Covers steel structures and similar installations from risks associated with erection
• Protects against lawsuits resulting from unintentional injuries to third parties sustained while erection projects are being carried out 
• Provides coverage for any property damage claims from third parties linked to the erection works

3- Contractors Plant & Machinery Takaful

This Abu Dhabi National Takaful business plan covers contractors' plants, machinery, and equipment against sudden and unforeseen physical loss or damage that may require repair or replacement.

It is essential for contractors to provide vital protection for equipment and machinery against unforeseen risks on construction sites.

Key Features:

• Comprehensive Coverage: Safeguards a wide range of contractors' plants and machinery from unexpected incidents
• Repair and Replacement: Ensures that any necessary repairs or replacements due to damage are covered 
• Mobile Plants and Equipment: Designed to protect machinery that is mobile and used on construction sites
• Accidental Damage Coverage: Covers losses resulting from sudden and accidental incidents, ensuring operational continuity

4- Electronic Equipment Insurance

Electronic Equipment Insurance covers electronic or electrical equipment against sudden and unforeseen physical loss or damage. This Abu Dhabi National Takaful Business plan ensures that businesses are protected from various risks associated with sophisticated electronic devices.

Coverage Inclusions:

Protects electronic and electrical equipment from a wide range of risks, ensuring operational continuity.

Additional Coverage Options:

• External Data Media: Covers loss to external data media, including costs for reprocessing and retrieving lost information
• Increased Cost of Working: Includes additional expenses incurred from hiring substitute equipment, transport charges, accommodation for personnel, night work, or working on public holidays

Key Features:

• Risk Protection: Protects electronic devices, including computers, communication systems, navigation tools, and research equipment
• Material Damage Coverage: Covers material damage from various risks, including — 
  • Fire
  • Lightning
  • Explosion
  • Smoke
  • Water and humidity damage
  • Electrical failures (e.g., short circuits)
  • Air conditioning failures

5- Deterioration of Stocks

Deterioration of Stocks Insurance provides coverage for the spoilage of stock stored in cold storage facilities due to the breakdown of refrigeration or freezing equipment. This Abu Dhabi National Takaful business plan is essential for businesses that depend on refrigerated storage, ensuring protection against potential losses from equipment failures.

Coverage Details

• Protection Against Spoilage: Protects against the deterioration of stocks in refrigerated chambers following a machinery breakdown
• Claim Support: Offers financial compensation for losses incurred due to spoilage after a valid machinery breakdown incident

Requirements:

To qualify for this insurance, businesses must have machinery takaful protection in place.

3. Marine Insurance

This Abu Dhabi National Takaful business insurance plan covers a range of risks associated with marine operations, including the transportation of cargo, damage to vessels (hull), and liability for people on board.

1- Marine Cargo Takaful

Marine Cargo Insurance covers loss or damage to cargo during transportation over water, air, or road. This includes coverage against perils such as theft, fire, and natural disasters. Additionally, you have the flexibility to tailor the policy to meet specific business needs, accommodating different types of cargo and transportation methods.

What’s Covered?

• Insures cargo during transport by air, sea, or road, ensuring protection at every stage of the journey
• Provides financial compensation for losses resulting from unexpected incidents 
• Covers standard risks associated with marine transport, including damage during loading and unloading
• Includes protection against losses arising from war-related activities or strikes that may affect transportation

Additional Coverage Options:

• Land Transit: Extends coverage to goods transported over land, ensuring protection throughout the entire supply chain
• Project Cargo: Specifically covers large, complex shipments related to projects, such as machinery and equipment for construction

2- Marine Hull Insurance

This Abu Dhabi National Takaful business plan provides comprehensive protection for pleasure crafts, including motorboats, jet skis, yachts, sailing boats, and other similar properties used for private enjoyment. 

It covers loss or damage to the vessel itself and offers additional liability protection.

Coverage Inclusions:

• Loss or Damage Coverage: Safeguards against physical loss or damage to your pleasure craft, ensuring you are financially protected in case of accidents or incidents
• Third-Party Liability Protection: Covers claims made against you by third parties, including —
  • Protection against claims for bodily injury to others.
  • Coverage for legal liabilities arising from fatalities.
  • Expenses related to the removal of your wrecked vessel.
  • Costs incurred in mitigating further losses.

Extended Coverage Options:

• Coverage for liabilities associated with water skiing activities 
• Protects personal effects on board the vessel, offering peace of mind for valuable items
• Extends protection to motors and connections on board, ensuring that all components are completely safeguarded
• Covers medical expenses incurred due to accidents involving your vessel

3- Marine Hull Commercial Insurance

Marine Hull Commercial Insurance is essential for businesses operating marine transport fleets, offering comprehensive coverage tailored to various vessel types and maritime risks. This Abu Dhabi National Takaful insurance plan provides comprehensive coverage for a variety of commercial vessels, ensuring financial security against various maritime risks.

Coverage Inclusions:

• Protects cargo vessels of all types, including tugs, supply vessels, dredgers, and more
• Covers vessels operating in both blue waters and relatively protected inland or coastal waters

Types of Hull Covers:

1. Hull and Machinery - Covers damage to the hull and machinery of the vessel, ensuring repairs or replacements are financially supported
2. Disbursements (Increased Value) - Protects against expenses incurred during the operation of the vessel that exceed the standard coverage limits
3. Protection and Indemnity (P&I) - Provides protection against liabilities arising from the operation of the vessel, including crew injuries and environmental damage
4. Builders Risks - Covers vessels while they are under construction, protecting against risks associated with the building process
5. Ship Repairers Liability - Provides coverage for liabilities faced by ship repairers for damage that may occur during maintenance or repair operations

4- Aviation Insurance

This type of Abu Dhabi National business insurance provides comprehensive protection for aircraft, passengers, and third-party liability against unforeseen events.

Comprehensive Coverage:

• Aircraft Hull and Liabilities: Covers the physical damage to the aircraft, including insurance for cargo and third-party liabilities 
• Hull Coverage for War Risks: Provides protection against risks associated with war and allied perils affecting the aircraft

4. Liability Insurance

What is Liability Insurance?

Liability Insurance provides protection against claims resulting from injuries and damage to people or property. It covers legal costs and payouts for which the insured party is found liable.

1- Public Liability

This type of Abu Dhabi National Takaful business insurance protects you against claims for accidental damages or injuries to third parties that occur as a result of your business operations or activities.

Businesses need to safeguard against unforeseen third-party claims, ensuring your financial protection and peace of mind.

Coverage Inclusions:

• Injury and Death: Covers legal liability for accidental injury or death of third parties
• Property Damage: Protects against claims for property damage caused by the insured business activities

Additional Protections:

• Product Liability: Include coverage for claims related to defects in products sold or supplied.
• Product Recall: Provide protection for costs associated with recalling defective products.

2- Professional Indemnity Insurance

This Abu Dhabi National Takaful business plan protects you against lawsuits and claims for damages arising from your professional services.

Coverage Inclusions:

• Legal Liability Protection: Covers claims resulting from professional negligence on your part that could cause third parties to suffer physical harm or property damage 
• Consulting Professionals: Provides indemnity for consultants, including engineers and architects
• Medical Professionals: Offers coverage for medical malpractice claims for healthcare providers
• Accountants: Protects you against claims related to errors or omissions in financial services

3- Directors & Officers Liability

Directors & Officers Liability Insurance provides comprehensive coverage to corporate executives from personal liability arising from their decisions and actions taken in their official capacities. This Abu Dhabi National Takaful business insurance safeguards corporate executives, ensuring they are protected from personal liability while fulfilling their roles, and promoting organisational stability.

Key Features:

• Coverage for Wrongful Acts: Responds to claims of alleged errors in judgement, breach of duty, or other wrongful acts committed by directors and officers
• Acts, Errors, or Omissions: Covers claims resulting from wrongful acts performed while serving as directors or officers, including any errors or omissions
• Directors and Officers: Provides coverage for liabilities incurred by executives in their personal capacity, ensuring their financial security
• Contractual Obligations: Protects against liabilities arising from contractual and business requirements, offering additional security for the organisation
• Executive Recruitment: Helps organisations in attracting capable directors and officers by providing necessary protection against potential legal risks

4- Workmen’s Compensation Insurance

Workmen’s Compensation Insurance is a type of Abu Dhabi National Takaful Business plan that offers coverage for employees and labourers in case of work-related injuries or death, ensuring peace of mind for both employers and employees.

What’s Covered?

• Injury and Death Protection: Offers compensation to employees and labourers for injuries or fatalities that occur during work activities
• Salary Compensation: Workers can receive compensation for up to 24 months of their last basic salary before death, under UAE labour law, with a minimum of AED 18,000 and a maximum of AED 35,000.
• Death Benefits: Provides a percentage of death benefits as mentioned by UAE labour law.
• Indemnity Coverage: Protects employers by covering indemnity based on basic salaries/wages as per the employee contract.
• Reimbursable Medical Expenses: Covers treatment costs at local government or private hospitals/clinics, ensuring employees receive necessary medical care.
• Legal Claims Coverage: Shields the company from claims made by employees under common or Sharia law, with coverage limits typically up to AED 200,000 per employee/labourer.

5. Group Medical Insurance

Group Medical Insurance is designed to meet the healthcare needs of organisations and their employees. This Abu Dhabi National Takaful business insurance caters to various market segments based on their unique requirements and budgetary constraints and is tailored with sub-limits and equitable rates.

It provides comprehensive, flexible, and cost-effective healthcare solutions, ensuring that you and your employees receive the necessary medical care with ease and confidence. 

Key Features:

• Financial Strength:

The medical products are HAAD and DHA registered, backed by first-class (A-rated) reinsurers. 

This ensures additional financial strength and stability, giving you peace of mind regarding claim settlements.

• Global Access:

You have access to a highly connected network for direct billing worldwide, ensuring support in case of travel assistance and medical emergencies.

• Comprehensive Coverage:

1. Inpatient Benefits: Coverage includes hospital accommodations, surgical fees, surgical appliances, prosthetics, and parent accommodations
2. Outpatient Benefits: Includes physiotherapy, prescription medications, diagnostic testing, consulting costs, and more
3. Additional Benefits: Maternity, dental, optical, trip extensions, medical evacuation, and repatriation are all covered

• Extensive Provider Network:

You have access to a carefully curated network of more than 2,000 healthcare providers, including well-known Middle Eastern and GCC hospitals, clinics, diagnostic centres, and pharmacies.

• Flexibility in Care:

You can access medical care anywhere, whether in the UAE, GCC, Middle East, or beyond. Additionally, you have the option to choose from a wide range of local and international providers who will submit bills directly to the company for hassle-free settlement.

Abu Dhabi National Takaful Company Claim Process

Below are the steps you need to follow to fill out the Abu Dhabi National Takaful business insurance claim form -

• Go to the Abu Dhabi National Takaful official site
• Click on the ‘Customer Service’ option in the main menu
• Select the ‘Claims’ button from the drop-down
• Choose the desired option to file your claim
• Fill out the form with the necessary details, including —
  • Type of insurance
  • Personal information
  • Policy number
• Include any necessary documents as specified
• Select the checkbox to confirm you are not a robot
• Click the ‘Submit’ button to complete the process

Reasons to Choose Policybazaar.ae for your Business Insurance Needs

If you want to compare policies from multiple insurers to find the best coverage for your business requirements, Policybazaar.ae can be a preferred option.

Here are some reasons why -

• Easy Navigation: Enjoy a seamless experience with Policybazaar.ae intuitive interface that makes finding and comparing policies straightforward
• Professional Support: Access expert advice and assistance to help you understand your options and make informed decisions
• Tailored Policies: Choose from customizable insurance solutions designed to meet the specific needs of your business
• Competitive Rates: Benefit from competitive rates and exclusive deals at Policybazaar UAE that can help you save on your insurance costs
• Transparent Information: Receive straightforward information on policy coverage, exclusions, and terms, allowing for better understanding and decision-making
• Streamlined Claims: Experience a hassle-free claims process with dedicated support to guide you through the steps