The policy can be taken by any industrial, manufacturing or business concern who periodically draw large sums of money for their day to day transactions, payment of salaries, one time payments like arrears of pay, bonus etc.
Money Insurance Policy Covers
- Loss of money in transit by the Insured or the Insured’s authorised employee(s), occasioned by robbery, theft or any other fortuitous cause
- Loss of money in safe by burglary, housebreaking,
robbery or hold-up.
Money Insurance Policy does not Covers
- Shortage due to error or omission.
- Riot and Strike, Terrorism.
- War and Nuclear group of perils.
- Money entrusted to any person other than the
Insured or an authorised employee.
- Legal liability, consequential loss, theft from an unsecured vehicle.
- Money entrusted to a carrier.
- Loss due to any act in which the Insured is involved as principal or accessory.