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.

 

Next Steps?

News and Updates

  • Allied Insurance strengthens their CSR Initiative with New Pledges

    Allied Insurance Company of the Maldives launches new pledges under CSR initiative “Green for Good”. Reaffirming commitment for an environment friendly workspace. The new pledges were launched at the Opening Ceremony of 10to10 Dive held in Angsana Ihuru by Banyan Tree Group’s Sustainability Director and Banyan Tree Global Foundation’s Coordinating Director Dr. Steve Newman.

    August 31st, 2019
  • 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.

    January 31st, 2019