Cash in transit
What is it covers.
This policy provides coverage for money kept on the premises in a locked safe, held by authorized employees, and during transit to and from the bank. Additionally, it includes money stored within the premises in a secure safe or strong room, money held by senior staff, and any damage to the safe. Coverage limits are specified for all scenarios, along with the estimated annual carry.
What's in it for you?
Provides peace of mind for losses due to the following causes:
- Funds are under the personal care of the insured or the insured’s authorized employees while being directly transported between the premises and the bank.
2. Funds are withdrawn to pay wages, salaries, and other earnings, or to replenish petty cash, and are in direct transit from the bank to the insured location.
3. Funds collected and held in the personal custody of the insured or the insured’s authorized employees while being transported to the premises or bank are covered, provided the transit does not exceed a period of 48 hours from the time of collection.
Claims Adjustment
Process.
Initial Assessment
Our adjusters gather essential information, including policy details, incident reports, witness statements, and any available documentation related to the claim.
Investigation
Our expert adjusters conduct a thorough investigation to evaluate the circumstances of the loss or damage.
Coverage Evaluation
We review the insurance policy to determine the coverage provided for the specific claim
Loss Assessment
Based on the investigation and coverage analysis, we assess the value of the loss or damage.
Negotiation and Settlement:
We work closely with the insured, insurance company, and any other involved parties to negotiate a fair settlement.
Claim Documentation and Closure
Once settlement is reached, we ensure proper documentation of the claim, including any agreements, releases, or other necessary paperwork
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