Cash-in-transit and Cash-in-Safe

The Cash-In-transit Insurance Policy is designed to cover 'all risks' of loss or damage to 'money' of the Policyholder. The definition of 'Money' extends beyond cash to include several other forms of which include bank and currency notes, cheques, bankers' drafts, phone cards, gift tokens, postage stamps etc. (as expressed in the original policy).  The 'Money' as so defined is insured in several situations including transit, on insured's premises during business hours, bank night safe, in a locked safe out of business hours, in the private residence of an employee of the insured etc.  The Policy includes damage to safes due to theft or attempted theft.   Policies can be extended for an additional premium to include personal accident benefits to employees who may be attacked while handling or carrying money on behalf of the policyholder, loss of or damage to personal effects of employees in the course of theft or attempted theft and cost of opening safes following theft of keys.  Policy covers infidelity of employees warranted such infidelity is discovered within 72 hours of its happening.

Fidelity Guarantee

The Fidelity Guarantee Policy covers fraud and dishonesty of employees that handle their employer's money or other property, either by way of handling cash as a cashier or sales assistant does, or by way of being involved in record keeping, in the way that an accountant, computer operator or purchase manager does.  Either way it is possible for the employee to divert the employee's money or property to somewhere it is not supposed to go, such as the employee's pocket or bank account. 

The Policy comes in different forms.  One can be taken out on named employees with a specific amount per employee or a maximum amount any one employee.  Another form is 'Blanket Policy' or all employees in a specific  category or department or specific jobs, without naming the employees.