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Saturday, August 19, 2017

Cash In Transit

INTRODUCTION

  • The proposal form forms the basis of the contract.
  • The consideration for indemnity being premiums.
  • Upfront payment of premiums is mandatory before commencement of cover.

RISK

Loss of money which includes cash or currency notes occasioned by robbery or theft or any cause whilst in transit or in premises.

COVER

  • Money in Transit.
  • Money in premises during and after business hours while locked in drawers.
  • Money with the directors at residence or in transit.
  • Money with authorized staff.
  • Money in locked safe.
  • Money with the tellers at the counters or locked drawers.
  • Value of safe or strong room.
  • Unused local Authority, NSSF, or NHIF stamps.

EXCLUTIONS

  • Theft of Money from unattended motor vehicle.
  • oss due to error or omission.
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