Select the expanded form of ALOP used in insurance

Question

Question: Select the expanded form of ALOP used in insurance

Options:

1.  Advance Loss of Profits insurance
2.  Agreed Loss of Profits insurance
3.  Additional Loss of Profits insurance
4.  Associated Loss of Profits insurance
5.  Authorised Loss of Profits insurance

Answer 1

1. Advance Loss of Profits insurance

The expanded form of ALOP used in insurance is 'Advance Loss of Profits insurance'.

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More info:

ALOP stands for 'Advance Loss of Profits insurance' as used in insurance.

ALOP insurance provides coverage for financial losses due to delays in construction and infrastructure projects.

ALOP also provide compensation if companies face higher costs or lost profits when the project takes longer than expected to complete.

ALOP is often referred to as a delayed completion coverage or delay in start-up insurance.