Page 152 - Misc Ebook IC 78

The Insurance Times

Q8. Describe the cover available under the
various sections of the bankers blanket
indemnity insurance.

Ans. The Bankers Blanket Block policy provides the
following covers under the various sections:

a) On premises - it covers money or securities, for which
the insured is responsible for in his custody, and feature
in his own premises or in the premises of its bankers,
being lost, destroyed, otherwise made away by the fire,
riot and strikes, burglary, housebreaking, theft, robbery
or hold ups. The cover operates even if the contingencies
are brought about by any employee of the insured.

b) In transit- it covers money or securities, being lost,
stolen, mislaid, misappropriated, or made away with while
they are in transit with the employees. The cover is
operative even if the loss is a result of negligence or
fraud of any insured employees.(Though the negligence
is an exclusion under the policy).

c) Forgery or Alteration - it covers the payment of bogus,
fictitious, forged or raised cheques or drafts, the payment
of genuine cheques, drafts, or fixed deposit receipts

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