Page 408 - IC38 GENERAL INSURANCE

d) dishonesty of the partners / directors]
3. Sum insured
The bank has to fix the sum insured which would usually float over the first 5
sections. This is termed as „basic sum insured‟. Additional sum insured can be
purchased for section (1) and (2) if the basic sum insured is not sufficient. The
policy also allows one compulsory and automatic reinstatement of sum insured
by payment of an extra premium
4. Rating
The premium calculation is based on:

a) Basic sum insured
b) Additional sum insured
c) Number of staff
d) Number of branches.
Test Yourself 6
Which of the below can be covered under a bankers indemnity insurance policy?
I. Money securities lost or damaged whilst within the premises due to fire
II. Forgery or alteration of cheques
III. Dishonesty of employees with reference to money
IV. All of the above

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