HOT ON the heels of the Archbishop of Canterbury’s remarks about Sharia law becoming more prevalent in the UK, Foneshield is launching what it claims is the first Sharia compliant mobile phone insurance policy.
The company claims that the policy will appeal to ethically aware consumers, not just upwardly-mobile European Muslims.
It introduced this new insurance product following research that showed 58 per cent of respondents were willing to opt for an ethical insurance policy.
Ethical compliance will cover the investment, participation and processes of the insurance cover. It will be sold directly online and through selected mobile phone dealers.
Foneshield also has a very interesting policy aimed at mobile phone dealers called Cashield. It’s designed to protect them against problems arising from offering customers mobile phone cashbacks.
That’s good news considering the significant numbers of mobile phone dealers who go bust before paying the cashbacks they owe to existing customers.
The INQ is not quite sure how the company can do it, but if you take out a mobile phone insurance policy with Foneshield and don’t make a claim after 18 months, then the cover is free.
How does that work? Maybe because the policy covers water damage and we all know how susceptible handsets are to being drop into the sink, etc. So you’re bound to make a claim.