Money-Insurance-Policy

WHAT CAN BE INSURED
"Money" carried by authorized 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.

Un-disbursed money retained in a "burglar-resistant" 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.

The cover can be extended in respect of the following additional risks:

Infidelity of the messenger carrying cash

Overnight keeping of money in the premises in locked standard burglary resistant safe in excess of 48 hours.

WHO CAN TAKE INSURANCE
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.

RISK COVERED AND PREMIUM RATING

THE RISKS COVERED
Loss by
Robbery
Theft
Hold-up
Burglary
Housebreaking or any fortuitous cause whilst in transit
When cash is retained over-night it is covered only against burglary house-breaking and holdup.

POLICY EXCLUSIONS
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)

Loss of money where the insured or his employee is involved as principal or accessory.

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.

Loss occurring on the premises after business hours unless the money is in a locked safe or strong room.

Loss of money from safe or strong room by using key unless obtained by threat or violence.

Money carried under contract of affreightment and theft of money from unattended vehicle.

Consequential loss or legal liability of any kind.