AIG Offers Sharia Homeowners Insurance in US.....
Greed kills......
Risk Specialists Companies, Inc. (RSC),a subsidiary of AIG Commercial Insurance, is introducing what it says is a first in the U.S.: a homeowners insurance product that is compliant with key Islamic finance tenets and based on the concept of mutual insurance.
The Takaful Homeowners Policy is underwritten through RSC member company A.I. Risk Specialists Insurance, Inc., in conjunction with Lexington Insurance Co. and in association with AIG Takaful Enaya. Headquartered in Bahrain, AIG Takaful Enaya was established in 2006 to provide Takaful products, including accident and health, auto, energy, property and casualty products.
The Takaful home policy is the first installment in Lexington Takaful Solutions, a series of Shari'ah-compliant (Takaful) product offerings in the U.S.
ZIP
H/T:Jeffrey Imm
Nice to see what bailout money is doing for us these days. Now I can sleep well tonight knowing that my tax money was so well spent.
Posted by: Poopyhead | December 03, 2008 at 11:27 PM
Glad "we" decided to buy that company...what a crock.
Posted by: GW | December 04, 2008 at 11:38 AM