Page 419 - Misc Ebook IC 78

Miscellaneous Insurance

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
irrespective of whether the said instruments are
received over the counter, or through the clearing
house or by mail.

d) Dishonesty - it covers the dishonest or criminal
act of any employee of the insured with respect to
the loss of money or securities wherever
committed, whether singly or in connivance with
others.

e) Hypothecated Goods - it covers fraud or
dishonesty of the insured's employee in respect to

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