Features & Benefits
Requirements: When starting a new business it is important that everything goes according to schedule. Even a slight delay in the commissioning of your project can affect your work from generating revenues and cause a loss of profit. Taking a material damage policy like Erection All Risk or Contractor’s All Risk is not enough, what you need is the “Advance Loss of Profit Insurance "Policy”.
Benefits: Running your own business requires large volumes of money and careful planning of finances. There might be financial commitments that cannot be fulfilled without the expected profits. During the process of construction, accidents may occur and damage your property. Worse, the start of business operations may be delayed and you may suffer losses. The “Advance Loss of Profit Insurance” policy will meet your needs in this situation.
Sum Insured: This is an indemnity policy. The sum insured is based on the anticipated gross profit of your business and also the indemnity period.
Premium: The main risk factors that would determine the material damage rate for this product would be the nature of the occupancy, location, past loss experience, deductibles and coverage. The premium rate for “Advance Loss of Profit Insurance” is derived mainly from the material damage rate by applying factors which affect your risk of financial loss.
Please read the
policy wordings for more information.
*Terms & Conditions apply.