Kaarisa Takaful introduced, insurance against natural disasters

Allied Insurance’s Islamic window, Ayady Takaful – in collaboration with National Disaster Management Center has introduced “Kaarisa Takafu” – an insurance package against natural disasters.

Ayady Takaful reported that the insurance package will provide compensation for damage to property, household items and businesses from natural disasters.

It said that the package also included temporary accommodation.

Ayady Takaful and National Disaster Management Center signed a Memorandum of Understanding over the insurance package in a function held at Champa Central Hotel this Monday.

The MoU was signed by Minister of Defense, Adam Shareef Umar and Deputy Managing Director of National Disaster Management Center, Mohamed Shafaz.

An official from Ayady Takaful reported that the insurance package covers risk of damage from all natural disasters; including tidal waves, tsunamis, thunderstorms and fires.

“What’s special about this product is it provides temporary accommodation to the people or residents of households who suffer damage from natural disasters. This is the biggest issue in such natural disasters,” said the official.

Ayady Takaful reported that the insurance package is divided into three categories; damage to own property, damage to possessions inside own property; a category for tenants; and a category for small and medium enterprises.

The official from Ayady Takaful said that the package will cover policyholders who have taken the insurance package and paid the premium on time for three consecutive months.

Speaking during the function, Minister Adam Shareef Umar said that Maldives had suffered multiple natural disasters in recent times, with some still unable to recover from the damage.

He said that the Kaarisa Takaful insurance package was a blessing in face of such natural disasters.