Page 344 - Misc Ebook IC 78

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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
independent persons.

The liability of the insurer is limited to 5% of the
basic sum insured or Rs 10,000 whichever is less.

Q4.b) Define the exclusions under Banker's
Indemnity.

Ans. There are several exclusions in banker's blanket
insurance ,they are as follows :
(i) Losses of any money or securities due to wrongful

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