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Financial Lines insurance covers financial institutions against infidelity, professional indemnity and directors' and officers' liability.
Coverage
Bankers Blanket Bond (Main Cover)
The Banker's Blanket Bond is a "blanket cover" protecting financial institute in question against variety of different perils:
- Infidelity of Employees: financial loss due to dishonest or
fraudulent acts of employees.
- On Premises: Loss of property resulting from theft, burglary etc
- In Transit: Loss or damage to property whilst in transit anywhere in Pakistan in the custody of employees
- Forged cheques
- Counterfeited currency
- Damage to office and contents arising from burglary, theft, hold-up and other criminal act
- Securities et al
Salient Features
- Easy to administer
- Electronic & Computer Crime liability can be included in the cover if required
- Claims made policy
Main Exclusions
- Infidelity of directors, contractual employees / armed guards
- Errors & omissions on part of employee(s)
- Losses due to terrorism
- Losses due to fire and allied perils
- Areas of insurgency, hostilities, rebellion, insurrection, civil war, war (whether declared or undeclared) and / or warlike situations
Other Products Available
- Plastic Card Insurance
- Foreign Exchange Dealers Policy
- Directors & Officers Liability
- Safe Deposit Box / Lockers Insurance
- Electronic & Computer Crime Insurance
Premium Payment Procedure
Premium payment mode and claim settlement process has to be decided mutually upon agreed terms. |
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