A Memorandum of Understanding (MoU) was signed yesterday between Takaful IBB Berhad (TIBBB) and the Youth and Sports Department at the Ministry of Culture, Youth and Sports at Takaful IBB Berhad's headquarters, Dar Takaful IBB Utama in the capital.
Exchange of documents between Hjh Lily (L) of Takaful IBB Berhad and Hajah Norlah of the Youth and Sports Department. - P MARILYN
Under the agreement, TIBBB will be providing the Group Personal Accident Takaful Scheme coverage package for Project Brunei Gold athletes and coaches for 12 months, throughout the duration of the 2009 Project Brunei Gold.
The insurance covers a total of 34 athletes and coaches/assistant coaches in three sports: karatedo (11 athletes and two coaches/assistant coaches), pencak silat (11 athletes and four coaches/assistant coaches), and cycling (four athletes and two coaches/assistant coaches).
The coverage will protect all athletes in the event of death and permanent total disablement due to accident or illness occurred within 12 months following the accident or illness.
It will also be extended to temporary disablement, where weekly benefits will be payable.
The tailor-made scheme is designed to provide 24-hour coverage worldwide during or after tournaments and trainings, including daily risk exposure.
Meanwhile, signing on behalf of TIBBB was its acting managing director, Hjh Lily binti Haji Kula, while the Youth and Sports Department was represented by its acting director, Hajah Norlah binti Haji Yaakob.
On hand to witness the signing were Syariah High Court judge and Takaful IBB Berhad Director Dato Seri Setia Ustaz Awang Haji Metussin bin Haji Baki and Permanent Secretary at the Ministry of Culture, Youth and Sports Dato Paduka Awang Haji Jemat bin Ampal.
Hjh Lily, in her welcoming address, said the development of the scheme was made possible by technical underwriting expertise and vast experience of TIBBB being 15 years in operation, as well as being the first takaful service provider in the country.