This policy is designed to cover organizations and individuals that handle and transact cash in large volumes against loss of own-money or money for which the insured is responsible.
Money insurance policy provides cover for loss of money in transit between the insured’s premises, bank and other specified places occasioned by robbery, theft or any other fortuitous cause. It also provides cover for loss of money in the business premises, safe or vault, etc.
This policy provides cover for;
- Cash in Transit
- Cash in Safe/Vault
- Cash in premises
This policy can be extended to include the risk of infidelity of the employees and disbursement risk.
- Shortage due to error or omission
- Losses due to the fraud/dishonesty of the employee of the insured.
- Losses which are covered by other policies