Author Archives: abamv

Dhivehi Insurance introduces insurance cafes and restaurants

PSM News 13 June 2017 : Dhivehi Insurance has introduced a special insurance product targeting the cafes and restaurants. The new product was launched at a special function held at City Garden Restaurant. The scheme would cover loss or damages to the building, employees or customers due to a fire or due to natural disasters, according to Dhivehi Insurance. Speaking with PSM News Managing Director of Dhivehi Insurance Abdul Wahid Thaufeeq said that the main purpose of introducing such a

Fire in Rasdhoo island dive centre, shops cause MVR1 mln in damages

Mihaaru FEBRUARY 12, 2017: A diving centre, souvenir shop and storehouse burned down in the island of Rasdhoo in Alif Alif atoll on Saturday. The damages caused to the three buildings, operated in a single land plot of the island as a family business, are estimated to exceed MVR 1 million. According to the business’ owner Abdul Rasheed Adam, the fire had first caught at Rasdhoo Dive Centre before spreading to the adjacent souvenir store and shop which had served as

Allied introduces guesthouse insurance scheme

Mihaaru SEPTEMBER 25, 2016: Allied Insurance launched an insurance scheme for guesthouses on Saturday. Introduced at the BML Guesthouses Maldives Conference, the first guesthouse conference hosted by the island nation, the scheme consists of three packages with Budget, Budget Plus and Premium. The three packages compensate for damages caused by fire accidents, explosions, lightning, rallies and riots, and vandalism. The scheme also covers damages caused to guesthouses by vehicles and aircrafts, and natural disasters and compensates injuries caused to third

Much to be desired in Maldives’ insurance industry: Minister

Mihaaru  MARCH 6, 2017 : Minister of Finance and Treasury Ahmed Munawar proclaimed that the Maldives’ insurance industry is in dire need of expansion. Speaking at the ceremony held at Hotel Jen to inaugurate the Corporate Liability Insurance for heads of companies and industry professionals, Minister Munawar stressed that the Maldives has the capacity to expand its insurance industry. Comparing the Maldivian industry with other neighboring countries’, the minister noted that insurance holds very less interest in the Maldivian economy. “The usage

Why ABA Maldives

We are independent from the control of any insurance company. Our function is to study the needs of the Insured and analyse the risks exposure facing the Insured and then recommend ways to reduce the physical hazards which result in reduced risks and thereby reducing the premium rates. A full insurance programme will then be drawn up for the Insured’s consideration. From the programme, we will arrange the policies with the most stable and reputable insurance company which can provide

Fire and other perils

Standard fire insurance policies provide coverage against financial loss or property damage caused by a fire or other covered perils. The basic version of a fire insurance policy covers the cost of replacement, reconstruction or repair beyond what is outlined in the holder’s property insurance or homeowner’s policy.

Hull Insurance

Typically, marine insurance is split between the vessels and the cargo. Insurance of the vessels is generally known as “Hull and Machinery” (H&M). A more restricted form of cover is “Total Loss Only” (TLO), generally used as a reinsurance, which only covers the total loss of the vessel and not any partial loss.

Motor Insurance Third Party

Motor vehicles and motor related accidents are rising at an alarming rate in the Maldives. The reckless driving of people on the roads have caused countless damages to properties and injury and deaths. You may never know when you are faced with an unfortunate event and have to bear the cost of third party injuries and damage to property belonging to another, let alone your own vehicle and your own wellbeing. This insurance provides you with the financial assistance you