Page 278 - Misc Ebook IC 78

The Insurance Times

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 be covered on
payment of additional premium. The policy would
then cover the disbursement risk of the earmarked
money, provided the loss is occasioned by an insured
peril.

Website: www.bimabazaar.com Call: 033-22184184 / 40078428 274

Copyright@ The Insurance Times. 09883398055 / 09883380339