This covers loss of cash to and from Bank or branches for the payment of salaries and other expenditures whilst in transit and on the Customer’s premises until disbursed provided money not disbursed the same day are kept in strongly locked safes/ strong room.
Summary of cover includes money whilst in:
Non Financial Institution:
Money in Transit 0.75%– 0.5%
Money in Safe/ Strong Room -0.45% – 0.75%
Money in premises (not in safe) 0.65% – 0.85%
Money in personal ( principal) Custody – 0.65% – 1%