Page 404 - IC38 GENERAL INSURANCE

3. Extensions
On payment of additional premium the policy may be extended to cover:

a) Dishonesty of persons carrying cash,
b) Riot, strike and terrorism risks
c) Disbursement risk, which is the loss suffered during payment of wages to

employees
4. Premium
Premium rate is fixed depending on the insured, cash carrying liability of the
company at any one time, the mode of conveyance, distance involved, safety
measures taken etc. Premium is adjustable according to actual cash carried
throughout the year based on declaration made within 30 days of expiry of the
policy.
Test Yourself 4
Which of the below is covered under a money insurance policy?
I. Shortage due to error or omission
II. Loss of cash from one‟s premises due to burglary
III. Loss of money that has been entrusted to other than authorized person
IV. Riot strike and terrorism

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