Page 88 - Misc Ebook IC 78

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(vi) Arbitration - any dispute relating to the claim
amount are to be referred to arbitration. The making
of an award is a precedent condition to any right of
action against the insurers.

Q10. Which contingencies are covered in Bankers
Blanket Block Policy. Discuss.

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

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