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MONEY POLICY designed to cover organizations and individual that handle…
MONEY POLICY designed to cover organizations and individual that handle and transact cash in large volumes against loss of own-money or money for which the insured is responsible
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preamble part- insurer & insured name, type of policy, address of registered office, premium charge, recital clause
body part- operative clause-condition,warranties,exclusions,specialties,endorsement
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cost of repair or replacement to the damaged locked safe or strongroom resulting from theft of money or any attempt threat.
- money in insured's premises during and outside normal business hours.
and - money in insured's premises contained on locked safes or strongrooms
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the situation, go to bank, the money bring out to that bank to pay wages and, but have not had time to pay, the money has been robbed. then money should be asked for protection.
- personal accident to the messenger or custodians
- armed robbery and hold-up at the insured's premises
- riot, strike and civil commotion
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- shortage due to error or omission on resulting from clerical or accounting errors and loss due to error in receiving or paying out or due to mysterious disappearance
- loss or damage by through the collusion of or the fraudulent embezzlement by or the fraudulent misappropriation by the insured
- loss occurring outside the territorial limits
- any loss occurring when the premises are closed unless the money is in the lock safe or locked strong-room
- loss from unattended vehicle
- any loss or damage occasional by or through or in consequence, directly or indirectly of any of the war, martial law, any of terrorism
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- change of policy term and condition
- material changes of subject matter
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- all money not paid out on the day which it received from the bank in secured in the insured premises in locked safe or strong room after bussiness hours.
- the insured shall take all ordinary and reasonable precautions for the safety of money.
- cash boxes or till drawers after business hours to be kept with their contents in safe or strong room in the insured premises.
the highest cash, the highest risk of loss
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