Money

Money is exposed to mishaps such as .loss and damage like any other property and to protect against the risk of loss of money Al Wathba Insurance offers insurance protection under the “Money Insurance Policy”:.

Money insurance is an “all risks” cover with some exclusions for which a reference may be made to the printed policy.

Essentially Money would mean cash, notes, cheque, and securities for money, stamps and the likewise.

The cover is available for “money” against all risks whilst:

• It is in transit from premises to bank and vice versa
• In safe in office premises
• Out of safe during working hours
• In a bank’s safe
• In the care & custody of company’s designated staff

Other extensions incidental to Money Insurance can also bought and tailor made to the exact requirements of customers.

In granting a “Money Insurance Cover”, factors taken into consideration are: Limits on:

• Estimated annual carrying
• Maximum limit for any one carrying
• Maximum limit for safe-keeping at any given time.

The rate chargeable is always applied on a “Per Mille” basis (for every thousand units) on the estimated annual carrying and limit of money in safe/premises. The charges are dependent on the nature of risk, location and the security measures in place. For a thorough understanding of the product, a reference may be made to the printed policy or advice sought from our technical staff.

The main exclusions under the policy are:

• Theft by own employees
• Money out of safe
• Loss from premises following use of a key unless key is obtained by violence or threat
• Shortages due to errors of omission and commission
• War etc.

Quotations will be provided on submission of a duly completed proposal form. For further details please call or ask for a CALL BACK via the call back option.