MONEY

Overview

The policy covers accidental loss or damage to money belonging to the insured, or for which he is responsible for by any cause while being transported by an employee or authorized person or whilst on the insured’s premises or in a bank night safe including damage to safes or strong rooms caused by theft or any attempted threat.

Features & Benefits

  1. This policy is tailored according to the insured’s estimates of annual cash transfers and cover limits. The money insured includes current coins, bank and currency notes, cheques, postal orders, and current postage stamps.
  2. This cover is available under the following circumstances:
    1. When money is drawn for the payment of wages, salaries and other earnings or for petty cash in direct transit from the bank to the insured premises.
    2. Money other than described in item (1) in the personal custody of the insured or the authorized employees of the insured whilst in direct transit between the premises and the bank or Post Office
    3. Money other than described in item (1) and (2) collected by and in the personal custody of the insured or the authorized employees of the insured whilst in transit to the premises or bank within a period not exceeding 48 hours from the time of collection.
    4. Money, which is in safes and damages to safes in the event of theft or attempted theft.
    Benefits
    1. Loss and/or damage to money whilst
      1. Money is drawn for the payment of wages, salaries and other earnings or for petty cash in direct transit from the bank to the insured premises.
      2. Money other than described in item (1) in the personal custody of the insured or the authorized employees of the insured whilst in direct transit between the premises and the bank or Post Office
      3. Money other than described in item (1) and (2) collected by and in the personal custody of the insured or the authorized employees of the insured whilst in transit to the premises or bank within a period not exceeding 48 hours from the time of collection.
      4. Money, which is in safes and damages to safes in the event of theft or attempted theft.
  3. In addition to the above named perils, cover can be extended to cover:
    1. Hold ups
    2. Riots and Strikes
    3. Assault Cover, which can be arranged for some additional premium.