Page 223 - Misc Ebook IC 78

Miscellaneous Insurance

Money insurance policy, they are :
(i) Infidelity of Employees - The normal policy does

not cover loss to the insured unless discovered within
48 hours of occurrence if arising through the
dishonesty of the employees entrusted with the
carrying of the property insured are thus not covered,
the policy is extended at an additional premium to
cover any act of fraud or dishonesty committed by
the employees carrying the property. This is known
as Infidelity Extension.

(ii) Loss or damage by Acts of Terrorism in
conjunction with the Riot and Strike cover can be
covered at an additional premium.

(iii) Disbursement Risk - The cover under a Money
in transit insurance policy in respect of wages,
terminates after the money is handed over to the
authorized person. If the wages are not disbursed
the same day and the money is kept in a locked
safe, an overnight cover in respect of the undisbursed
wages is granted. But if any loss arises while
disbursing the wages, it is not recoverable normally
under the policy. However, this disbursement can

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