Page 89 - Misc Ebook IC 78

Miscellaneous Insurance

cover is operative even if the loss is a result of
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
any goods or commodities pledged or hypothecated
to the insured or is in his control.

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