Chief Executive of the National Disaster Management Authority (NDMA) Hisan Hassan has emphasised the importance of the government better understanding and utilising the insurance system to alleviate the financial burden of disaster recovery on the state.
In an interview with PSM News, Hisan highlighted the significant progress made in collaboration with companies to establish a tailored insurance system for various natural disasters. He noted that government spending on recovery efforts, particularly for damages caused by heavy rains, fires, and other natural disasters, has been rising annually. To address this issue, the government has initiated reforms in its financial assistance system to manage these escalating costs more effectively.
Hisan also discussed the development of specialised insurance packages by the NDMA, designed to cover different types of disaster-related damages. These packages include provisions for rent coverage in cases of fire damage, compensation for damaged furniture and equipment, and tailored packages for warehouses and various businesses. He noted that the government is actively working to raise public awareness about the benefits and availability of these insurance options.
In the Maldives, a wide range of insurance services are already available, particularly in the tourism and housing sectors, as well as for businesses across the country.