Allied Takaful’s Cargo Plan Covers Goods in Transit by Sea, Air and Land

Allied Insurance Company of the Maldives offers a Cargo Takaful plan covering goods while they are in transit, whether shipped by sea, air, or land.

What the Plan Covers

Cargo Takaful covers the shipment of goods for a single voyage, from the time they leave the shipper’s or seller’s warehouse until they reach the consignee’s or buyer’s destination. The plan covers loss of or physical damage to cargo during that transit period.

The product sits within Allied’s wider marine Takaful offering, alongside Marine Hull Takaful, which separately covers vessels themselves against risks connected to their navigational operations.

Shariah-Compliant Structure

As a Takaful product, the cargo plan operates on a mutual-contribution model rather than a conventional insurer-to-policyholder structure. Participants contribute to a shared fund, and claims are paid out from that fund in the event of a covered loss. Allied notes that its underwriting capacity across its Takaful and insurance products is backed by internationally rated reinsurance partners.

Background

Allied Insurance Company of the Maldives has operated in the country since 1985 and describes itself as a fully Maldivian-owned insurer. Its general and Takaful portfolio spans marine, motor, fire, health, and family products, offered through a network of agents across inhabited islands.

Businesses moving goods between Male’ and the atolls, or importing from abroad, can find further details on the Cargo Takaful plan at allied.mv.