Page 261 - Misc Ebook IC 78

Miscellaneous Insurance

Q8. State the different Contingencies covered
under Bankers Blanket Indemnity
Insurance.

Ans. The Bankers Blanket Block policy cover for the
following contingencies:
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).

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