Ethical Insurance, Canada's first provider of takaful products

CHES Special Risk, a Canadian insurance agency, has established the first provider of Shariah-compliant insurance products in Canada.

Named Ethical Insurance, the new entity specializes in construction and commercial property liability risks.

Ethical Insurance guarantees exclusion from industries related to alcohol, weapons, certain food products and gambling.

The new company's activities will be overseen by a supervisory board made up of Shariah experts.