Advance Loss of Profit (ALOP) Insurance Policy
In the present scenario, construction projects face several challenges that could result in delayed completion and financial loss to the firm responsible. These projects typically have set schedules for building structures and a time frame for completion of the buildings. A delay in completion can lead the construction companies, developers and other parties to incur significant losses.
The primary objective of ALOP Insurance is to Indemnify the Principal or Owner of the project from the losses sustained due to a Delay in Completion of the insured works. This delay may be due to direct physical loss or damages covered under the CAR policy/EAR policy. The policy further becomes more important for organisation that use debt financing. They may find it difficult to repay debts, such as those incurred for procurement of the plant, machineries & construction equipment for erection etc. in case of any financial losses.
We at UNISON possess the requisite knowledge, experience and technical expertise to offer innovative and tailor-made insurance programs as per your requirements. We understand the needs of our clients and deliver results to their utmost satisfaction within the stipulated timeframe.