Advance Loss of Profit

Summary

Principal’s advance loss of profits insurance, also known as advance loss of profits (ALOP) or delay in start-up insurance, indemnifies the actual loss of gross profit sustained as a result of delayed commencement of business operation caused by an accident covered under the contractors’ all risks policy or the erection all risks policy.

  • Risk Covered
    • Loss of Gross Profits.

  • Key Points
    • Coverage is suitable for project contractors; project equipment suppliers; project investors and operators This insurance compensates for:

      Standing charges (continuing business expenses) including the salaries and wages paid to employees plus the net profit, The increase in cost of working, i.e. the additional expenditure necessarily and reasonably incurred for avoiding or diminishing a reduction in turnover, revenue or rentals.

  • Information Required
    • Commencement/completion date
    • Period of construction
    • Period of Maintenance
    • Simplified process flow diagrams
    • Annual Sum insured
    • Financial data
    • Back up plans

Advance Loss of Profit

Jubilee General’s 8th Annual Sales Conference

The 8th Annual Sales Conference of Jubilee General Insurance Company began on 18th of February 2013. Lahore with its vibrant and colorful spring wel

Pakistan's Crop Loan Insurance Initiative Highlighted by AGRIFIN

Mr Azfar Arshad, EVP-Head of Operations & Mr Kashif Thanvi, GM, HBL invited by AGRIFIN to present their views on the subject, to world

International Insurance Conference on Catastrophe Events – A Challenge

The PII held its second International Insurance Conference at Sheraton Hotel, Karachi from 10th-12th April, 2012.

Ask a Question

Make sure you're covered by letting us your answer of your questions.

Locate Us

Locate Us

Select your city
Need help? UAN Number 111-654-111
Toll Free 0800-03786
9:00 a.m. to 5:00 p.m. weekdays


111-654-111

Need help? call us for query!