Takaful Products & Solutions

Shariah-compliant (Takaful) insurance is a fast-growing area in the market and is becoming of increasing interest to individuals and businesses across the world.

Islamic insurance has become an important, viable and appealing alternative to conventional insurance throughout the Muslim world over the last decade as added significance is attributed to establishing financial systems compatible with Islamic teaching and Shariah Law

Takaful is derived from the Arabic verb kafalah, which means to help one another, or mutual guarantee. To this end, takaful products revolve entirely around shared risk and responsibility and the notion of mutual or cooperative financial aid.

The objective of conventional and Islamic insurance is the same – they both aim to protect an individual/business from unforeseen circumstances. However, the fundamental difference between the two is that the concept of takaful is to remove the three main elements of conventional insurance which contravene Shariah principles i.e. uncertainty (gharar), gambling (maysir) and interest (riba).

We at Edge Insurance Brokers LLC operate as an independent professional intermediary, to solicit, negotiate or procure takaful insurance contracts through tie-ups with leading Takaful insurance companies in the UAE.

We can tailor insurance solutions that suits your business requirements, so if things do go wrong you’ll be well-placed to minimize the financial impact and get back to business asap. Contact us today for free quotes, from a panel of insurance providers, and to find out more about how to protect your property and assets.

Frequently Asked Questions (FAQs)

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Your business insurance needs will depend on several factors and understanding it all can be complex and time consuming. One thing you can’t afford is to put your business at risk by choosing the wrong type of insurance. A professional Insurance Broker like Edge has the knowledge and expertise to identify what the most appropriate cover is for your needs and will take the time to explore and explain your options to you. Not only do we ease the stress and deliver peace of mind, but we find you the most appropriate cover at the right price. We provide guidance when you need it and we accurately present your risk, understand your needs, as well as study the market, the covers available, the differences between the insurance providers, and what the implications of those differences are for you. We also deal with your claims on your behalf.

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