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"Money" carried by authorised messengers of the insured while in transit from the time it is taken out till received at the destination--points of origin and destination being specified before-hand.
We Cover
"Money" carried by authorised messengers of the insured while in transit from the time it is taken out till received at the destination--points of origin and destination being specified before-hand.
Undisbursed money retained in a burglar-resistant and safe against burglary-risks.
Cash carried by insured /proprietor/partner/director and also one firm carrying the cash of another firm in the same premises is also insurable.
Cash retained overnight by the employees in their residences in locked steel cupboard when on collection duty up to 48 hours from the time of collection.
Who can be insured
Any industrial manufacturing or business concern who periodically draw large sums of money for their day-to day transactions payment of salaries one time payments like arrears of pay bonus etc.
Insured against what risks
Loss by robbery theft hold-up or any fortuitous
WHAT WILL POLICY PAY AND HOW MUCH?
Policy will pay as per below:
Money or money's worth actually lost up to the "limit per carrying" specified in the policy.
WHAT IS NOT INSURED
The policy will not pay :
Shortage due to error or omission
Riot strike terrorism war and Nuclear group of perils
Money entrusted to any person other than the insured or an authorized employee(except due to the employee's fraud or dishonesty discovered within 48 hrs)
Legal liability. consequential loss theft from an unsecured vehicle
Money entrusted to a carrier
Loss due to any act in which the insured is involved as principal or accessory
