Money

The policy provides cover for loss of money in transit between the insured’s premises and bank or post office or other specified places occasioned by robbery, theft or any other fortuitous cause.

The policy also covers loss by burglary or housebreaking whilst money is retained at Insured’s premises in safe(s) or strong room.

BASIS OF SUMS INSURED

  1. Cash in transit form and to the bank
  2. Cash at hand during working hours
  3. Cash in hands of authorized persons
  4. Cash in safe after working hours
  5. Estimated annual carryings

Exclusions:

  • Radioactive contamination
  • Consequential losses
  • Losses due to the fraud/dishonesty of the employee of the insured
  • Losses which are covered by other policies
  • Shortages due to errors or omissions
  • Postal Transit by unregistered mail
  • Losses due to unattended vehicles

Note: Policy details given are indicative, not exhaustive. Please contact your nearest FICO office for further details.

How to Claim

In the event of an incident giving rise to a claim under the policy, the following steps should be followed:

  •  Report the incident to the police immediately and take any other practicable steps to discover the thieves and recover the money lost.
  •  Immediately notify the insurance company by phone, email, fax or in writing.
  •  Submit a Claim Form duly filled in to the insurance company.
  •  Give the insurer particulars of any other insurance covering the same event.
  •  Give the insurer written details of any claim.
  •  Give the insurer such proof, information and sworn declarations it may require from time to time and forward to the insurer immediately any document or details of any communication received in connection with a claim.
  •  Take immediate steps to minimize the loss, to prevent a similar occurrence and to ensure that all rights against any party who may be responsible for the loss are preserved.
  • Essential Documents:

  •  Claim Form duly filled in with supporting documents
  •  Written Statement of Claim on the amount loss
  •  Police Report
  •  Photographs (if necessary) of damages and point of entry (applicable to premises)
  •  Copies of Insured’s accounting records or other documentation to establish the exact amount of loss. These will include copies of receipts, payment vouchers, pay-in-slips, cheques buts, bank statements etc.
  •  Furnish all information and documentary evidence as required by Insurers or Adjusters other than the above
  •  Copy of Notice of claim served on the security company and their reply (applicable to premises)

Note: Policy details given are indicative, not exhaustive. Please contact your nearest FICO office for further details.