Allied Insurance Company has introduced a new life insurance policy, – the Key Person Insurance Policy. The new policy is specially designed to recover the loss for small and medium-sized businesses in the event of death or TDP of the key person/s of the business.
The new policy was launched on 24th of October 2011, at a launching ceremony held at Nasandhura Palace Hotel. The function was inaugurated by the Chief Guest, Minister of State for Economic Development, Mr.Ahmed Mujathaba. Distinguished guest included senior management staff of STO Plc & STO Group Companies, senior government officials, major clients and other senior members from the Maldivian business industry.
In his address, Managing Director of Allied Insurance Company, Mr.Abdul Wahid Thowfeeq said that since the commencement of life insurance in 2008, the company has been introducing various life insurance products to cater the needs of individuals. The Key Person Insurance was introduced as an appreciation for the contribution of small and medium-size business to the country’s economy.
Furthermore, he said that the company’s goal is to introduce new insurance covers to meet the different and changing needs of the Maldivian community and will continue to do so in the future.