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Money Policy (EXCLUSIONS (Shortage due to error or omission or resulting…
Money Policy
EXCLUSIONS
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Any loss occurring when the Premises are closed unless the money are in a locked safe or locked strong-room.
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Any act of terrorism, War, Mutiny, strike, riot, civil commotion, military
ADDITIONAL COVER
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Riot, strike and civil commotion
SCOPE OF COVER
• Money in Transit : Monies in the personal custody of the Insured’s authorised employees whilst in direct transit between the premises and bank or post office including money drawn as wages and salaries from the time of receipt until paid out
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• Damage to Safes or Strongroom : Cost of repair or replacement to the damaged locked safe or strongroom resulting from theft of money or any attempt threat.
DEFINITION: Designed to cover organizations and individuals 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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CLAIMS CONDITIONS
All the details and evidence which we ask for concerning and amount of any loss, damage or injury shall be provided by you at your own expenses.
WARRANTIES
All Money not paid out on the day on which it is received from the Bank is secured in the Insured Premises in a locked safe or strong room after business hours
A complete record of the amount of Money in the safes be kept in a secure
The Insured shall take all ordinary and reasonable precautions for the safety of the Money.