Page 175 - Misc Ebook IC 78

Miscellaneous Insurance

the claim amount itself, while settling the claim. The
policy is usually valid for a year commencing as per the
financial year of the insured bank.

Excess - In the Banker's Indemnity Insurance, the
insured has to bear an excess in respect of each and
every loss. If the claim is under ' On Premises', 'In
Transit', 'Forgery or Alteration', 'Dishonesty', or
'Hypothecated Goods' , the insured has to bear 25% of
each loss or 2% of the basic sum insured whichever is
higher, but not exceeding Rs 50,000.

The excess will not apply to loss or damage arising out
of Fire, Riot, Strikes, Burglary and House Breaking. If
the claim is under 'registered Postal Sendings',
'Appraisers', or 'Janata Agents', the insured has to bear
25% of each claim.

Q5.b) Specify any 6 exclusions under the Jewellers
Block policy except War/nuclear risks.

Ans. There are several exclusions under Jewellers Block
policy apart from War/Nuclear risks. 6 of them are as

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