Money Insurance

Money Insurance 

Cover the loss of money while it is in the premises or transit. Moreover cover loss of damage to safe, strong room, the premises and other property by robbery, safe burglary, or attempt thereat.

3 coverages as below:

M1: loss of money by robbery or attempt thereat

M2: loss of money by any cause not specified in the exclusion ex. robbery, fire, natural peril and etc.

M3: M2 + any fraudulent and dishonest act by a messenger, a custodian discovered within 3 working days after the occurrence

Insuring Agreement

The Company affords coverages only with respect to those agreements for which a limit of liability is shown in the Schedule and the maximum liability of the Company under each agreement shall not exceed the limit of liability stated in the Schedule.

1. Loss of wages and/or salaries: 

The Company will pay compensation for loss of wages and/or salaries outside the premises while being conveyed by a messenger, and while being inside the premises until paid out, provided that wages and/or salaries not paid out be secured in locked safe or locked strong room after the business hours.

2. Loss inside the Premises: 

The Company will pay compensation for loss of money in care of a custodian within the premises during business hours

3. Loss inside safe or strong room: 

The Company will pay compensation for loss of money from within the locked safe or locked strong room after the business hours.

4. Loss outside the Premises: 

The Company will pay compensation for loss of money outside the premises while being conveyed by a messenger.

5. Damage to safe or strong room: 

The Company will pay compensation for damage to safe, strong room, the premises and other property by robbery, safe burglary or attempt thereat.

Your premium may vary, depending on:

Limit of each coverage, including estimated amount of money carried during period of insurance

Who is taking care of money during transit

Route of transit

Security system 

Other factors

Exclusion for M.1, M.2 and M.3

This Policy does not apply 

1. To loss due to any fraudulent, dishonest or criminal act by any Insured or a partner or a   director or an  employee, whether acting alone or in collusion with others. (For M.1 & M.2) 
2. To loss due to any fraudulent, dishonest act by any insured or a partner or an employee except such act by a messenger, a custodian discovered within three working days after the occurrence and in case the fraudulent, dishonest act committed several times before discovery, the date of occurrence is assumed to be the first day of occurrence. (For M.3) 
   
3. To loss of manuscripts, accounts or records. 
   
4. To loss due to forgery, the giving or surrendering of money in any exchange or purchase, or accounting or arithmetical errors or omissions. 
   
5. To loss due to war (whether war be declared or not), civil war, strike, riot, civil commotion amounting to a popular rising, rebellion, revolution, acquisition of property by order of public authority. 
   
6. To loss due to nuclear weapons, radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel. 
   
7. To loss due to any loss insured by a fidelity guarantee.(For M.3)