What is Cash in Transit?
This policy covers money while in premises in a locked safe, in hands of authorized employees, and while in transit to and from the bank. This covers money while being moved from premises to banks and vice versa. The cover also extends to cover money within the premises in a safe and strong room. It also covers money in hands of senior staff and damage to the safe. In all cases, limits are provided and the estimated annual carry.Indemnify the insured against any accidental physical loss of money in a locked safe, in hands of authorized employees, in the premise and while in transit to and from the bank during business hours or outside business hours.
Cover’s a corporate institution against the loss of money or goods by fraud or dishonesty of named employee(s). Indemnify the employer against direct pecuniary loss and in many cases also loss of stock, which might result from acts of dishonesty by an employee in the course of his employment.
Bankers Blanket Bond covers a financial institution against cash risks such as:
- Loss of money while in transit and electronic/cybercrime
- Employee infidelity resulting into loss of money.
- Loss of money on the premises of the bank both during and outside business hours.
Indemnify the insured against loss of money while in transit, employee infidelity, electronic/cybercrime and loss of money in the premises of the bank.
