Page 421 - Misc Ebook IC 78

Miscellaneous Insurance

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.

Excess - In the Banker's Indemnity Insurance, the
insured has to bear an excess in respect of each and
every loss.

If the claim is under 'On Premises', 'In Transit', 'Forgery
or Alteration', 'Dishonesty', or 'Hypothecated Goods' ,
the insured has to bear 25% of each loss or 2% of the
basic sum insured whichever is higher, but not exceeding
Rs 50,000.

The excess will not apply to loss or damage arising out
of Fire, Riot, Srikes, Burglary and House Breaking. If
the claim is under 'registered Postal Sendings',

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