Page 190 - Misc Ebook IC 78

The Insurance Times

Q9(c) A money policy is issued with a per carrying limit
of Rs. 20,00,000, and the annual carrying limit
was Rs. 2.5 crores. One day, a sum of
Rs.25,00,000 was in transit to the insured's office,
carried in two bags containing equal amounts. The
said cash was withdrawn from the bank due to
some urgent need. Unfortunately one bag was lost
in a hold up. What is the amount of claim payable?
Also, provide the reason for your answer.

Ans. The amount of claim payable = Rs.12,50,000 , since it is
less than the daily carriage limit of Rs.20,00,000.

Q10. Mention important exclusions of Bankers
Blanket Insurance.

Ans. There are several exclusions in banker's blanket
insurance, they are as follows :
(i) Losses of any money or securities due to wrongful
act or default of any non salaried directors or
partners.
(ii) Losses of any properties or securities or personal
property confined to the care of the insured, the
nominal value and descriptions of which have not

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