Don’t Be the Same, Be Better with Us !
Almoriaat is a new type of company for Iraq, founded by a group of experienced insurance and risk management professionals.
We see the need for an independent insurance and risk management consultancy to provide advice to both the insurance and business sectors
We understand the issues confronting you and have the contacts and experience to place cover in both Iraq with regulation by the Diwan and into the London reinsurance markets.
We understand how to obtain the best value for money terms in the market. Our policies are from insurers who know what they are doing and understand what the insurance contract must achieve.
The need for insurance is frequently misunderstood and seen as an expense to be reduced or avoided.
It is true to say that unnecessary insurance should be treated this way but there is also what we call “necessary insurance“.
This protection is to avoid a loss affecting the survival or financial health of a business. Should a large fire happen, or a serious liability claim be made a company without insurance has to find the money from the balance sheet or borrow the capital.
Such a financial blow means that money that could have gone to pay profits or to increase the size of the company now has to be spent recouping lost property or reputation.
There are many ways to buy insurance without wasting resources. The solutions depend on your specific financial and trading situation.
A detailed consultation with us can help you protect your balance sheet without the need to buy unnecessary insurance.
Become One of Our Awesome Projects
Reinsurance
Our expertise identified a problem in a MENA country within its Construction industry reinsurance schemes. The programme was reworked to provide a modern treaty at affordable terms.
Business Interruption
This is not widely known in Iraq, but it is possible sometimes to insure increased costs to stay in business following a fire or insured risk.
We arranged a policy where the firm could rent an alternative property while their building was rebuilt after a fire. This meant that output was continued without losing customers.
Affinity Schemes
Our experience in other countries has been to set up schemes for Banks and Mobile Phone operators by way of examples. The insurance was for things as diverse as loans and mobiles.
We have also been able to set up special schemes for car hire operators and their trade association.
Risk Management
A manufacturing business was losing money and could not understand why. Our survey showed that staff turnover due to illness in the Accounts Department was affecting cashflow. It transpired that the lighting in that department was poor. New light bulbs changed the workspace and cashflow improved