Overview
Cash in transit / Cash in safe / Hold up / Infidelity of employees.
This policy Covers the loss sustained in the following situations:
The cover is available for the loss of cash drawn for the payment of wages, salaries and other earnings or for petty cash in direct transit (for the work necessities) from the bank to the Insured’s premises and vice versa. Risk Starts from the time the cash is received at the Bank by the Insured or the authorized employee of the Insured as detailed in the Policy until delivered at the premises or other place of disbursement (declared with the Insurer) and until their paid out.
Loss of Cash by forcible entry or hold-up (by armed persons) whilst in the Insured’s premises in locked safe or strong room and also damage to the safe or strong room caused by burglary and thieves. The Cover also includes the loss of Cash even during non-business hours provided same is secured in locked safe or locked strong room on the premises.
To cover the Infidelity of your employees who are in charge as a direct result of acts of fraud, theft & dishonesty for the loss of money