What is this product about?

This policy will indemnify you in the event of money stolen or robbed either from your premises or whilst it is being carried to or from the bank or in the custody of authorized employee who is entrusted in collecting money from the customers’ premises.

What are the covers / benefits provided?

The policy covers:

Money In Transit	Loss of money in the custody of authorized personnel whilst in transit from your premises to bank and/or vice versa
	Loss of money in the custody of authorized employee who is entrusted in collecting money from the customers’ premises.
Money In Premises	Loss of money whilst the money is kept in your premises

With the payment of additional premium, the policy may be extended to cover:

• Damage to Safe/Strongroom - The cost of repair and replacement of the Safe/Strongroom caused by any theft or attempted theft.
• Personal Accident benefit to your employees engaged in carrying money against death or permanent disablement caused by armed robbery or hold-up.

What is the insured property?

The interest insured under this Policy is money kept in the insured premises, or in transit from bank to insured premises or vice versa as described in the Policy Schedule and situated in the location of risk named in the Schedule of the Policy.

Period of Insurance

Duration of cover is for one year. You need to renew your insurance Policy annually.

How much premium do I have to pay?

The premium you have to pay may vary depending on:

• Insured business/occupation
• Sum Insured / Limit
• Type of coverage
• Construction of premises where the money is kept
• Type of safe
• Type of security protection that has been put in place to prevent loss
• Past loss history
• Additional coverage required
• Our underwriting requirements

What is the payment mode and how do I pay the premium?

This is an annual policy and you may pay your premium in full either by cash or cheque or bank transfer.

What are some of the key terms and conditions that I should be aware of?

• Duty of disclosure
  - You must give all the facts which you know or ought to know.
  - You must ensure that the proposal form is completed accurately as it forms the basis of the insurance contract.
• Contribution Condition
  If at the time of any loss destruction or damage happening to any subject matter insured there be any other subsisting insurances whether by You or by any other person or persons covering the same subject matter, We shall not be liable to pay or contribute more than their rateable proportion of such loss destruction or damage.
• Claims Notification
  - In the event of a claim, you must notify us as soon as reasonably possible, but no later than 14 days from the date of the accident.
  - You must submit the claim documents to us within 30 days from the date of the loss or such further time as we may in writing allow.
• Deductible/Excess
  This is the amount you have bear before we indemnify you of a loss.
• Premium Warranty
  Premium must be paid in full and received by us within 30 days from the inception date of the cover, otherwise the cover is automatically cancelled and you will still be responsible to pay the proportion of premium for the period we have been on risk.

What are the major exclusions under this policy?

This policy does not cover:

1. Consequential loss of any kind.
2. Any loss arising from fraud or dishonestly of your employees.
3. Loss due to depreciation in value.
4. Insured (or which would but for the existence of this Policy be insured) by any fidelity guarantee policy.
5. Shortage due to clerical or accounting error.
6. Use of duplicate keys unless they are obtained by threat or violence.
7. Loss from an unattended vehicle.
8. Loss arising from the act of criminal breach of trust.
9. Loss arising from the act of cheating/deception.
10. After the expiration of twelve months from the happening of the loss unless the claim is the subject of pending court action or arbitration.
11. War, Civil War and any act of terrorism.
12. Radioactive and nuclear energy risks.

Note: This list is not exhaustive. Please refer to the policy contract for the full list of terms and conditions under this policy.

What are the pre-acceptance conditions for this product?

• Must maintain a proper book of accounts.
• Must have other insurances placed with us.
• No claims for the past 3 years.
• Insured has never been declined, cancelled or refused coverage previously.

Can I cancel my policy?

You may cancel the policy by giving Us ten (10) working days’ notice in writing. Upon cancellation, you are entitled to a refund of the premium based on the unexpired period of insurance less 10% administration charge provided no claims have been made during the current policy period.

No refund of premium for any cancellation of policy if premium is charged on minimum premium.