MTG
26-08-2009, 04:59 PM
This policy is intended to protect banks and industrial business establishments against loss of money. This policy is a modified version of burglary insurance.
What is the coverage Money Insurance provides?
The policy offers cover against loss to cash/cheques/postal orders/postal stamps.
While in direct transit from the bank to the insured's premises or to the places of disbursement.
Loss of cheques drawn while in transit from insured's premises to the bank.
In the personal custody of the insured or the authorized employees whilst within a period not more than 48 hours from the time of collection.
Whilst secured in locked safe/strong room in the insured's premises as a result of burglary, housebreaking, dacoity, robbery and hold up.
Losses on account of shortage due to error or omission, cash entrusted by unauthorized person, losses on account of shortage due to error or omission, cash entrusted to unauthorized person, riot, strike or civil commotion or those which are not discovered within 48 hours are not covered by this policy.
Is there some extra covers in the policy?
Policy may be extended to cover strike, riot, and civil commotion risks on payment of extra premium.
Whom should must buy this policy?
The policy shall be extremely useful for those who handle and transact cash in large volumes everyday. ex - banks and industrial business establishments etc.
What is the coverage Money Insurance provides?
The policy offers cover against loss to cash/cheques/postal orders/postal stamps.
While in direct transit from the bank to the insured's premises or to the places of disbursement.
Loss of cheques drawn while in transit from insured's premises to the bank.
In the personal custody of the insured or the authorized employees whilst within a period not more than 48 hours from the time of collection.
Whilst secured in locked safe/strong room in the insured's premises as a result of burglary, housebreaking, dacoity, robbery and hold up.
Losses on account of shortage due to error or omission, cash entrusted by unauthorized person, losses on account of shortage due to error or omission, cash entrusted to unauthorized person, riot, strike or civil commotion or those which are not discovered within 48 hours are not covered by this policy.
Is there some extra covers in the policy?
Policy may be extended to cover strike, riot, and civil commotion risks on payment of extra premium.
Whom should must buy this policy?
The policy shall be extremely useful for those who handle and transact cash in large volumes everyday. ex - banks and industrial business establishments etc.