Axa partners with Cobalt Underwriting on Shariah-compliant product
Policy is sold via brokers and aimed at the real estate sector.
Axa Insurance has teamed up with Cobalt Underwriting on a new Shariah-compliant real estate insurance product.
The insurer noted that the new product, which is available now and will be distributed via brokers in the UK, is a bolt on to its existing real estate offering.
Axa explained that it had devised new premium payment and claims processes to ensure the product adheres to the key principles of Islamic insurance.
It detailed that this includes mutual co-operation between policyholders and
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