Advance Loss of Profits Insurance (ALOP)

This type of insurance may also be encountered under the name CAR Loss of Profits, Delayed Earnings Insurance, Delayed Opening of Business, Delay in Start-up, Loss of Rent, and Loss of Standing Charges (including debt servicing costs). It is a business income protection cover, with the aim of covering the principal's loss of gross profit resulting from a delay in completion of the construction and/or erection works. A prerequisite for granting ALOP is for an underlying CAR or EPIC policy to be in force. Normal working delays are not covered under ALOP.
Cover is limited to the actual loss of gross profit sustained resulting from a delay in the completion of the project; the delay itself must be caused by a loss covered under a CAR or EPIC policy.


CGIB (PTY) Ltd is an Authorised Financial Services Provider (FSP No. 45121)
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