This is a Non-Tariff policy and covers the loss of money in transit. Money under this policy is defined as meaning: cash including coins and currency notes, bank drafts, treasury notes, cheques, postal orders, and current postage stamps. This coverage is bought by industrial and business concerns who periodically draw large sums of money from banks for payment of salaries & for day to day transactions.
This policy covers loss of money in transit due to robbery, theft or any other fortuitous cause when monies are carried by the Insured’s employees or Insured himself. Also cover is granted against burglary or housebreaking while money is kept in the Insured’s safe or strong room.