Page 418 - Misc Ebook IC 78

The Insurance Times

Q9. Draft a letter to an established bank
explaining the gist of the cover provided by
the standard policy devised for the banks and
also the aspects like excess, retroactive cover,
basic sum insured, additional sum insured,
and reinstatement of the sum insured.

Ans: The Bankers Blanket Block policy provides indemnity
against 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

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