Money Insurance

The policy covers loss of money in transit, by the Insured occasioned by robbery, theft or any other unexpected cause.
It is designed to protect banks and industrial/business establishments against loss of money.

Features
The policy offers cover against loss of cash/cheques/postal orders/postal stamps:-

  • While in direct transit from the bank to the insured's premises or to the places of disbursement
  • While in transit from insured's premises to the bank
  • In the personal custody of the insured or the authorized employees while within a period not more than 48 hours from the time of collection
  • While secured in locked safe/strong room in the insured's premises as a result of burglary, housebreaking, robbery and hold up
  • Loss of money in transit caused by robbery, theft, or any fortuitious events
  • Loss of money from the insured's safe or strong room caused by theft or robbery
  • Loss of money from the insured's premises during business hours caused by theft or robbery/li>

    Extra Covers

    Policy may be extended to cover strike, riot, and civil commotion risks on payment of extra premium.

    Requirements


    • All losses should be reported to the police and registered. Copies should be sent to insurers. Vouchers/proof of ownership and other evidence to substantiate the claim shall be required. Claims will be settled on receipt of final police investigation report and investigation by agency appointed by the insurers
    • Duly completed proposal form giving all the salient features as are required for proper underwriting of the risk