Page 236 - Misc Ebook IC 78

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(x) The distance over which the money is carried
(usually not to exceed 25 km).

(xi) The general condition of law and order in the area
through which the money is carried.

(xii) Location of premises & special security features
like Burglar alarms & Armed guards round the
clock.

(xiv) Accounting methods employed, level of control,
supervision etc.

Q2.b) Specify the exclusions under money
insurance.

Ans. Following are the exclusions under money policy:
(i) Shortage due to error or omission.
(ii) Loss of cash entrusted to any person other than the
insured or an employee of the insured.
(iii) Losses due to fraud or dishonesty of an employee
of the insured ( insurers cover such losses provided
they are discovered within 48 hours of their
occurrence).
(iv) Losses which are covered by other policies.
(v) Losses arising from war and allied risks.

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