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MONEY INSURANCE (GENERAL CONDITIONS (Assignment, Cancellation, Fraud,…
MONEY INSURANCE
SCOPE OF COVER
Designed to cover organizations&individuals that handle &transact cash in large volumes against loss of own-money or money for which insured is responsible
Money in transit
Monies in personal custody of the Insured's authorized employees whilst in direct transit between premises and bank/post office including money drawn as wages&salaries from the time of receipt until paid out
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EXCLUSIONS
Shortage due to error resulting from clerical/ accounting errors & loss due to errors in receiving /paying out and/ loss due to mysterious disappearance
Loss/damage by or through collusion of or fraudulent embezzlement by insured/any person in the supervision of the insured
Loss occurring outside Territorial limits (Malaysia, Singapore, Brunei)
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ADDITIONAL COVER
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Riot, strike and civil commotion
DURATION OF COVER
1 Year, Renew the policy annually
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