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DELAY IN
ALOP or DSU indemnifies the actual loss of gross profit sustained as a result of delayed commencement of business operation (project) caused by an accident covered under the CAR or EAR policy. ALOP 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. The ALOP cover for CAR risks is of interest for all kinds of buildings and civil works where rentals or other revenue is achieved. This cover is advisable for EAR risks,
Why ALOP
Because an interruption or delay in project completion can wipe all the earnings of a contractor, principle etc
Major Exclusions
Time excess Loss or damage covered under section-I by way of endorsements unless specifically agreed Delay in erection work or testing due to : Loss/damage to plant equipments whilst in transit AOG perils unless specifically agreed Loss/damage due to burglary, theft, pilferage, inventory losses
For More Details Please Contact
Nasco Karaoglan Qatar L.L.C | Insurance Brokers
Tatweer Tower - West Bay, P. O. Box 22761, Doha, Qatar Office: + 974 44 91 42 58 / Fax: + 974 44 91 42 59
www.nascoqatar.com
-------------------------------------------------------------------------------------------------------------------------Deductibles Instead of a monetary deductible this type of insurance is usually subject to a time excess of approx. 4 weeks per year of construction/erection period. The equivalent of the number of average daily values of the loss corresponding to the time excess is borne by the insured.
www.nascoqatar.com