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As per the Motor Traffic Act, it is a statutory requirement to have at least a valid Third Party Liability insurance policy to drive your vehicle on public roads. This policy only covers your legal liability towards third parties against personal injuries, death or their property damages.

However the loss of or any damages to your own vehicle is not covered by a mere Third Party Liability policy when accidents happen, and they do, at expected times. the LOLC General Insurance Motor Comprehensive policy offers the greatest peace of mind.

What does our Motor Comprehensive Policy cover?

  • Loss of or damage to your vehicle due to;
    • Fire, external explosion, self-ignition or lightning, flood and natural perils such as earthquake, tsunami, cyclone, storm & tempest, burglary & theft and malicious acts.
    • Accidents by external means and any damage caused whilst the vehicle in transit by road, rail, inland waterway, lift or elevator.
  • Legal liability towards Third Parties for;
    • Death of or bodily injury to any person.
    • Damage to their properties.
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Property Insurance

Investments in houses, property and business can be significant, requiring substantial effort and money to protect assets. Running a business is also a challenge and it often involves putting your finances at risk. Naturally you would need to have absolute peace of mind in knowing that your properties are protected from the uncertainties or misfortunes that may befall – be it due to natural calamities or otherwise. Accordingly it makes sense to manage risk, reduce uncertainty and protect your livelihood.

Though it is not compulsory, property insurance is also as important as motor insurance since your property could be affected by many factors – some which are even out of human control such as natural disasters and adverse weather conditions. What if there is a fire which would end up destroying most of your valuable properties including buildings, equipment, stocks. etc.

LOLC General Insurance offers Fire & Allied Perils policy to cover your properties against specific perils such as fire, lightning, explosion, burglary & theft, riot & strike, malicious damage, terrorism and natural perils. We have two types of Fire policies -

  • Private Residencies
  • Business / Commercial Premises.

What Does the Fire & Allied Perils Policy Cover?

Loss of or Damage to the buildings/contents due to:

  • Fire and/or Lightning
  • Explosion
  • Natural perils including Cyclone, Storm, Tempest, Flood, Tsunami & Earthquake
  • Malicious Damage
  • Bursting and/or overflowing of water tanks, apparatus and pipes
  • Impact Damage
  • Aircraft Damage

Optional Covers available at an additional premium:

  • Riot & Strike
  • Terrorism
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Takaful Insurance
A Comprehensive Motor Takaful Solution

The central idea of Takaful itself is to protect one another against any unexpected risk. Besides the Takaful system is perceived as a concept of mutual cooperation (ta’awun) and donation (tabarru’), where the risk is shared collectively and voluntarily by the group of participants to guarantee mutual protection of the members

Our Little History

Al Falaah – Islamic Business Unit

Since its inception in 2007, Al Falaah has striven hard to offer Islamic Financing Solutions to a wider customer base that encompasses not only just the Islamic community but the nation at large. Al Falaah operates within a specialized area of financing which enables the company to provide a customized and innovative product portfolio addressing both the business & socioeconomic requirements of the diverse market segments whilst meeting the specialized needs of the individuals.
Now, Al-Falaah Islamic Business Unit have introduced ‘Al-Falaah Takaful’ – a motor insurance product for your greater convenience, thereby bringing your entire Islamic financial solutions under one roof

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Miscellaneous Insurance
A Comprehensive Motor Takaful Solution

LOLC General Insurance provide a variety of other insurance policies for various risks as outlined. This is not an exhaustive list but it does given an idea of the varied type of products available.

The most common types of personal and business insurance policies include;

Contractors' All Risks Offers comprehensive and adequate protection against loss or damage in respect of contract works, construction plant & machinery and equipment. Cover is also extended to include legal liability against third party claims arising from property damage or bodily injury caused due to construction work
Computer and Electronic Equipment Covers sudden and unforeseen loss of or damage to computers and other electronic equipment arising from any external cause
Money Covers your money whilst in transit or in your premises against hold-up, robbery, burglary & housebreaking
Workmen's Compensation Covers your legal liability towards your employees as per the Workmen's Compensation Ordinance
Personal Accident Cover operates on 24 hour basis and pays compensation following an accident resuting in Death or Permanent Total Disablement according to the severity of the injuries. Weekly compensation is payable for temporary disablements as well
Business Interruption Covers the consequential losses such as loss of your income, increase in your costs following an interruption to your business due to loss of or damage arising from an insured peril under your -'Fire & Allied perils policy
Professional Indemnity Protects you from legal action taken against you if someone suffers a loss after following your professional advice or as a result of receiving your services/advices
Public liability Covers your business for legal and compensation costs that you might have to pay to a member of the general public in respect of death or injury, loss or damage to their property, or economic loss due to your negligence/carelessness
Product liability Businesses that supply, deliver or sell goods, even in the form of services or repairs, may need cover against claims when such goods or services cause damage, injury or death. The Product Liability Policy provides such protection.
Glass Covers the accidental breakage of fixed glasses in commercial establishments
Fidelity Guarantee Covers against fraudulent or dishonest acts committed by your employees directly resulting in loss of money, or goods
Machinery/Equipment breakdown Covers machinery and equipment used in your business. Some policies may also cover stock damages as a result of the breakdown
Goods in Transit Insurance Covers the loss of, or damage to, goods you buy, sell or use in your business when they are in transit by road, rail, air and sea. It also covers damage to property – such as tools and equipment – while in transit within a defined geographical limits