Page 342 - Misc Ebook IC 78

The Insurance Times

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).

c) Forgery or Alteration - it covers the payment of
bogus, fictitious, forged or raised cheques or drafts,
the payment of genuine cheques, drafts, or fixed
deposit receipts bearing forged endorsements, or the
establishments of any credit to any customer on the
basis of such document. The cover is operative

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