Consequential Loss Insurance

Consequential Loss Insurance compensates you for lost income if your company has to vacate the premises due to any peril covered under your fire insurance policy, such as a fire, lightning. Consequential Loss Insurance covers the profits you would have earned, based on your financial records, had the disaster not occurred.

The policy also covers standing charges that continue even though business activities have come to a temporary halt.

To cover for the loss of gross profit due to reduction in turnover and additional expenses incurred in minimizing the loss of turnover due to an interruption to the insured business by:

  • Fire
  • Lightning
  • Explosion of gas used for domestic purposes only
  • Special perils, which are similar to those, offered under the fire policy.

 

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News and Updates

  • Ayady Takaful commences “2017 Surplus Distribution”

    Allied Islamic window; Ayady Takaful holds a press briefing session regarding “Distribution of Surplus” for the year 2017. As announced at Allied Special Event 2019, Ayady customers can submit claim forms till 31st March 2019, 4pm. Surplus application forms will be available online from Ayady website; www.ayady.mv as well as from Ayady Customer front office located in H.Orchid (In front of Velaanaage)

    February 11th, 2019
  • Allied Insurance Company welcomes New Managing Director Mr. Mohamed Shafaz

    State Trading Organization plc appoints Mr. Mohamed Shafaz as the new Managing Director of Allied Insurance Company of the Maldives, effective from 31st January 2019. The appointment was made following the resignation of former Managing Director Mr. Ahmed Ameel, owing to familial responsibilities.

    January 31st, 2019
  • Allied Insurance Company marks 34th Anniversary in Special Event 2019

    The leading insurer of the Maldives; Allied Insurance Company holds the 3rd edition of Special Event to celebrate their 34 years of dedicative service. This ceremony held in Dharubaaruge on the 30th of January 2019 was honored by the Chief Guest; Governor of Maldives Monetary Authority Mr.Ahmed Naseer, other high level dignitaries/ government officials, Agents/ Brokers and corporate clients of Allied Insurance Company.

    January 30th, 2019