The Policy covers Money (as defined below) belonging to the Insured or for which the Insured is responsible while it is:-

a) in transit (normally restricted between the Insured’s premises and their bankers Premises)
b) in the Insured’s premises (out of safe during business hours – in safe out of business hours).
c) in other situations
d) The policy also covers damage to safes and strongrooms resulting from theft or any attempt thereat.
e) Money with authorised employees.

Money means Cash, Bank and Currency Notes, Cheques (other than crossed cheques,
crossed Postal Orders and crossed Money Orders, Postage, Revenue Stamps belonging
to the Insured (NHIF and Service Charge).

To enable us to quote for this policy, we will require (in addition to the information provided above) to know the Estimated Annual Carry (EAC). This is the aggregate of all the banking activities as detailed above. To arrive at the EAC consider: –

    • The amount of money taken to the bank or obtained from the bank at any given time
    • Number of times the banking is made
    • Multiply the figures obtained above by about 52 weeks.

The main Policy exclusions include: –

  • Loss from fraud and dishonesty of the Insured’s employees not discovered within three days. This is limited to Kshs. 2,000/= as there is a more specific policy that covers dishonesty of employees.
  • Loss due to clerical or accounting errors.
  • Loss of money left in an unattended room is not covered unless it is in a locked safe or cupboard or desk from which the key has been removed.
  • Loss whilst in transit by post.
  • Loss of money left in unattended vehicle.
  • Computer General Loss Exclusion
  • Political Risks Exclusion,
  • Terrorism Exclusion
  • IT Risks Exclusion
  • Losses falling within the policy excess

Premium Indication

Our indicative rates are could be discussed: –
a) Money in Transit:
b) Money in premises during business hours:
c) Money in premises out of business hurs:
d) Damage to safe or strong room:
e) Money with authorised employees:
f) Estimated Annual Carry: Between