Bankers' Blanket Bond

Scope of Cover

This insurance provides coverage to the Bank’s Property (various Negotiable instrument and like properties) in respect of the following risks:

  • While On Premises: Fire, riot, strike, burglary, housebreaking or theft, robbery or hold-up, within the premises or outside.
  • While In Transit: The risk of transit will start from the moment the same is received by the employee on behalf of the Insured.
  • Forgery or Alteration: This is covered but subject to due care of the Insured.
  • Infidelity of Employees
  • Dishonesty: By an employee or any criminal act of the employee.
  • Counterfeit Currency
  • Safe Deposit Liability
  • Loss of Subscription
  • Extortion Risks
  • Stop Payment Order or Refusal to pay Cheques
  • Cash Letter
  • Incomplete Transactions
  • Loss of Interest
  • Customer Personal Accident / Medical Cover
  • Securities Registered by Electronic Means

Exclusions

  • Earthquake, volcanic eruption, subterranean fire or any other convulsion of nature.
  • Flood inundation, hurricane, typhoon, storm, tempest, tornado cyclone or atmospheric disturbance.
  • War, invasion, act of foreign enemy, hostilities or war like operation.
  • Mutiny and Trading losses etc.
  • Wrongful acts or defaults of any directors, or partners of the Insured other than salaried employees.
  • Loss of any money or of securities or personal property confined to the care of the Insured.
  • Losses resulting directly or indirectly from trading.
  • Loss, destruction or damage to any property whatsoever or any loss or expenses whatsoever resulting or arising there from or any consequential loss.
  • Any legal liability arising from ionizing radiation or contamination by radioactivity from any source whatsoever or from nuclear weapons material.
  • Losses attributable to faulty manipulation or faulty programme by the employee or outsider.
  • Acts or omissions committed by the concerned employees after the discovery of a loss in which the said employee(s) is involved.

Underwriting Information Required

  • Completed Proposal Form