Page 263 - Misc Ebook IC 78
P. 263
Miscellaneous Insurance
in transit, or intended to be dispatched by registered
insured post from the insured's office (provided they
were insured individually with the post office). The
liability of the insurer for any consignment is limited
to 10% of the basic sum insured, or Rs. 50,000
whichever is less.
g) Appraisers - it covers loss due to infidelity or
criminal acts by the appraisers who are on the
approved list of the insured bank and provided the
bank exercises reasonable precautions and
safeguards in the selection and appointment of such
appraisers. The liability of the insurer is limited to
5% of the basic sum insured or Rs 25,000 whichever
is less.
h) Janata agents - it covers loss due to infidelity or
criminal act by the Janata agents or chhoti bachat
yojana agents or pygmy collectors etc. Provided such
agents are regular part-time agents of the insured
bank and their appointed after full scrutiny of their
credentials and guaranteed by two reliable
Sashi Publications - www.sashipublications.com 259
Copyright@ The Insurance Times. 09883398055 / 09883380339