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Bankers Blanket Insurance

Bankers Blanket Insurance cover is a built in cover of various “Insuring clauses” and extensions to include different contingencies in a “Custom made” bouquet to suit specific needs. The following are the insuring clauses available:

Infidelity of Employees - This extension of cover provides coverage for any loss money and or bankers instrument due to misappropriation or embezzlement by dishonesty of the insured's own employees.

On Premises - This extension of cover provides coverage for loss and or damage to insured's property due to various perils including fire whilst in the premises where the insured carries on business and other specified places which must be explicitly & clearly defined while selecting the cover.

In-Transit - This extension of cover provides coverage for loss and or damage to insured's property whilst in-transit to and from premises defined within the geographical area.

Forgery and Alteration - This extension of cover provides coverage for loss caused due to forgery or alteration (Expression forgery means the forging or fraudulent alteration of any document or the uttering of any forged or fraudulently altered document by the employee(s) whereby one obtains possession of monies or goods not belonging to him/ them.)

Securities - This extension of insurance covers securities of the insured (Stock, certificates, bonds, and other governmental guaranteed authority stocks etc.) whilst in insured premises or others due to loss and or damage resulting from named calamities.

Counterfeit Currency - This extension of cover provides coverage for loss resulting in the acceptance of counterfeit currency by the teller or other charged employee of the insured provided normal and standard care, procedures and precautions are fully applied and exercised.

Office and Contents - This extension of insurance provides coverage for loss and or damage caused by fire and other perils to the office and contents of the insured's premise which is specifically named whilst designing the policy for the coverage.

Other insuring Clauses: Separate sub-limits within the overall limit would be considered for other insurance extensions like, “Automated Teller Machines”, “Safe Deposit Vaults”, “Professional Indemnity” and “Computer Crimes”

The premium rate chargeable subject to the “sub-limits” and the “overall limit” of the Policy scope of cover, extent of cover desired for, available security measures, housekeeping, past record etc., amongst others. The Policy is also subject to a deductible under each insuring clause.

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