Bankers-Indemnity-Policy

WHAT CAN BE INSURED
Money and securities Travellers Cheques Gift Cheques Foreign Currencies Sale Deeds Bill of Exchange Shares Debentures Lorry Receipt.

A. Property on premises

B. Money/ securities in transit

C. Forgery/ alteration of cheques and drafts

D. Dishonesty and criminal act of employees in respect of Money and Securities committed singly or in connivance with others.

E. Dishonest act of employees in respect of Pledged hypothecated goods and under the control of the Insured

F. Registered postal sending

G. Infidelity of Appraisers

H. Infidelity of Pygmy Agents/Janatha agent/ choti bachat agents

WHO CAN TAKE INSURANCE
All scheduled co-operative and nationalized Banks for their branches in India.

RISK COVERED AND PREMIUM RATING

THE RISKS COVERED
The policy provides compensation for:

Loss on account of money/securities being destroyed by fire riot strike or taken away by burglary/ housebreaking theft robbery or holdup

Loss of money/ securities whilst in transit and being carried by authorized employees of the bank

Loss by reason of payment in respect of bogus fictitious forged or raised cheques

Loss of money due to dishonest/ criminal act of employee/s

Loss caused by reason of fraud or dishonesty by employees in respect of pledged/ hypothecated goods

Loss by robbery theft during despatches by RPP upto Rs 1 0 0

Loss due to infidelity or criminal acts of appraisers up to a max. of RS 50 0

Loss by reason of dishonesty of pygmy collectors janatha agents up to a maximum of Rs 20 0

PREMIUM
Premium Computation:
Premium Rate/Table

Policy Exclusions
War and nuclear perils terrorist activity

Losses resulting from the wrongful act of directors or partners of the insured other than salaried employees Losses due to any
Negligent Act or Omission of the Employees.

Losses due to Acts of Omission/Commission by employees after the discovery of loss in which the said employee was involved.

Trading losses

Consequential losses

Computer frauds Faulty computer programming

Losses of Money/Securities normal value of which have not been ascertained before loss

Loss caused by STFI earthquake ( this can be covered on payment of additional premium)