download

Definition

Designed to cover organization and individuals that handle and transact cash in large volumes against loss of own-money or money for which the insured is responsible

Money includes

Postal/ Money order

Bill of exchange

Cheque

Stamps

Cash

Scope of cover

Monies in the personal custody of the insured's authorized 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.

Money in the Insured’s premises during and outside normal business hours.Money in Insured’s premises contained on locked safes or strongrooms.Money in locked drawers or cabinets or cash registers.

Cost of repair or replacement to the damaged locked safe or strongroom resulting from theft of money or any attempt threat.

Additional Peril

Personal accident to the messenger or custodians.

Riot, strike and civil commotion

Armed robbery and hold-up at the Insured’s premises.

Duration of cover

1 year and need to renew annually

Exclusion

Loss from an unattended vehicle.

Any loss occurring when the Premises are closed unless the money are in a locked safe or locked strong-room

Loss occurring outside the Territorial Limits.

Shortage due to error or omission or resulting from clerical or a ccounting errors

General condition

Change of policy terms and condition

Subrogation

Fraud

Cancellation

Assignment

Contribution

Arbitration

Loss notification