Chase Takaful

The term Takaful originates from Arabic verb Kafalaha which means to help one another or a mutual guarantee. Thus the word Takaful refers to shared responsibility, shared guarantee, collective assurance and mutual undertakings by a group.

Takaful (or Islamic insurance) bears many similarities to co-operative or mutual insurance, but differs in that it embraces the concepts of mutual protection and shared responsibility.

Islamic vs Conventional

The conventional insurance contract is one of transferring of risk from the insured to the insurer for a premium. That is, one of risk trading.

The Islamic insurance contract is based on the Islamic principle Tabaru.

That is, a contract of self-insurance or self-guaranteeing among members of a group.

The fundamental principle of insurance is not forbidden in Islam, rather it is encouraged. However, today most conventional insurance companies define insurance as, the transfer of risk from the insured to the insurance company. Consumers then pay the insurance company (the premium¯) for assuming the risk on their behalf. Such assumption of Total Risk Transfer in the contract introduces elements of interest, uncertainty and features of gambling that render the contract un-lawful according to Islamic Shariah.

Chase Auto

There is a comprehensive cover for both commercial and private vehicles against damage to the vehicle in the event of an accident, theft of the vehicle or any parts, damage to the vehicle by fire, third party property damage and third party bodily injury.

Globle Trotter

The travel cover provides for travellers going beyond Kenyan borders as well as those coming into Kenya. The range of benefits under this cover include medical, personal accident, travel delay and curtailment, travel baggage protection, personal liability and accident protection among others.

Chase Home

The domestic insurance policy covers the home owner against perils and specified liabilities such as domestic fires, loss or damage of property resulting from theft accompanied by forceful entry and exit from the premises and other contents damaged by thieves while breaking in or out of the premises.

Chase Enterprise

The SME cover includes all risks, protection against fire and burglary,compensation for accidental loss of money, loss of money/stocks caused by unlawful acts by employees, legal liability to third parties and insurance for employees in accordance with the Work Injury Benefit Act (WIBA)

Chase High Seas

Important for importers and exporters, this policy covers property against loss or damage while in transit from one place to another or while being stored during a journey. The policy covers goods transported using the policyholder's vehicle or a third party carrier whether it is by sea, air or land.

Chase PI Lawyer

Professional indemnity for lawyers provides cover for claims brought against the member by a client or a third party due to acts connected with the member's professional negligence. Professional liability arises when the professional fails to perform a contractually agreed duty for the client.

Chase PA

Accidents are unexpected, and this cover is intended to secure the participants or representatives of the participant in case of Accidental Death, Permanent Disability or Temporary Total Disability. The policy also extends to cover Medical Expenses up to a specified limit.