cash in transit insurance
saravanan
(Querist) 11 June 2010
This query is : Resolved
we had taken cash in transit insurance. We had given cash to our employee who is incharge of our branch to disburse the cash to our procurement parties. He had start disbursement on the day and at 5 PM evening some payments are pending as usual. He used to bring the cash to his house for safety purposes and will disburse the balance cash cash in the next day morning. At the time of bringing the cash to his house the cash was stolen by some people using knife and making him injured. Whether we can get the claim amount. Please reply me quickly.
Uma parameswaran
(Expert) 12 June 2010
It shall depends upon the norms and conditions.It is better to enquire with the insurance Company.
mahendrakumar
(Expert) 12 June 2010
claim of transit insurance depends upon the contract with the insurance company.
however,i do not think you will get the claim in this in normal course, as no insurance company will cover such type of risk.
usually in this type of policies, insurance companies insist many conditions like type of suit case for carrying cash,time,designation of employees carrying cash,place where cash is kept and its security arrangement etc etc.
