Africa Retakaful provide support to construction projects of variable size and types ranges from building complex to factories and other construction projects. The support could be facultative reinsurances by providing optional capacity for Takaful ceding companies to utilize on case by case basis; or portfolio of construction and engineering risks received as per treaties for the original Takaful companies.
The CAR Standard cover:
The reinsurers agree with the reinsured that if at any time during the period of cover the items or any part thereof entered in the Schedule shall suffer any unforeseen and sudden physical loss or damage from any cause, other than those specifically excluded, in a manner necessitating repair or replacement, the reinsurers will indemnify the reinsured in respect of such loss or damage as hereinafter provided by payment in cash, replacement or repair (at their own option) up to an amount not exceeding in respect of each of the items specified in the Schedule the sum set opposite thereto and not exceeding in any one event the limit of indemnity where applicable and not exceeding in all the total sum expressed in the Schedule as reinsured hereby.
The reinsurers will also reimburse the reinsured for the cost of clearance of debris following upon any event giving rise to a claim under the Policy provided a separate sum therefore has been entered in the Schedule.
