Others insurance


Cash Insurance Policy


Unless otherwise stated, CASH would mean Bank Notes, Current coins, Cheques, Postal & Money orders and Current postage stamps.

 

COVERAGE

 

Policy shall indemnify the insured for loss of cash due to any reason except that the cause comes under one of the Exception.  In other words it is an ALL RISKS POLICY.

 

EXCEPTIONS (List is not exhaustive. Please refer to main policy.)

 

The Policy shall not pay for the following :

  • Shortage due to errors
  • Cash entrusted to any person other than the Insured or employees of the insured.
  • Loss due to Fraud / Dishonesty of Employee
  • If loss is payable under any other policy
  • Nuclear & Radiation risks
  • War & War like situations
  • Any consequential loss.

 

ITEMS COVERED

  • The Policy Schedule provides for coverage under different items which normally relate to the following:
  • Cash in Safe and Transit for amounts relating to payment of wages and salaries.
  • Cash held in a locked safe on over-night basis or extended to 24 hours basis.
  • Cash on premises when the premises is open for business against the risks of Robbery & Hold up
  • Cash in Transit whilst in the custody of a regular employee from one point to another.
  • The Limit of Company’s Liability are clearly stated against each item of the schedule.
  • Conditions with regard to safe used by the insured are imposed as to its location, size and weight etc. Policy cover is also subject to KEY ENDORSEMENT
  • Cash on premises (in Table Drawer, Cash Register, etc.) is covered against Robbery & Hold-up when the insured or his staff is put under a threat of physical violence by use of weapons.
  • Cash in Transit cover is also subject to extra conditions relating to how the cash shall be carried such as by Company Car, Engaged Taxi, on foot etc. etc. with clear and expressed conditions stating under what circumstances the loss is not covered.

 

How to purchase?

 

For detailed information,

Call toll free : 800(628873) - Ext 123

email: property@oicgulf.ae