Salient Features
Cash, Currency Notes, Coins, Securities for money, Postal Orders, Stamps, Cheques etc. whilst in transit or in locked safe en route to final destination.

Scope of Cover

• Loss, destruction or damage to money inclusive of wages & salaries by any cause whilst in transit in charge of Insured messenger and/or employee as detailed in the policy and within the territorial limits until arrival at the Insured premises and/or other places of disbursement.
  
  
• Loss of money drawn as wages and salaries by any cause whilst in the Insured premises and until paid out.
  
  
• Loss of money by any cause whilst in the Insured premises in locked safe or strong room and also damage to the safe or strong room caused by burglars and thieves.

The proposer should indicate the estimated amount of money in transit during the period of insurance. This is the amount on which the deposit premium is calculated initially at a fixed rate but the premium is finally adjusted at the end of each year of insurance in accordance with the actual amount in transit which must be correctly declared by the Insured.

The policy is subject to certain standard exclusions like Riot & Strike, shortages due to errors or omissions, etc.

Premium Rating

Money-in-Transit

• The premium rate for this class of insurance can be assessed only after a careful study of all circumstances appertaining to the transit, in accordance with the details furnished in the proposal form and previous experience. The rates vary depending upon the distance of the journey, mode of carrying, precautions taken, and the maximum amount at risk at any one time and the estimated annual carrying.

Maximum Single carrying limit

• NRs. 50 milion in cities of Kathmandu valley,Birgunj, Biratnagar, Pokhara, Nepalgunj and Bhairahawa/Butwal.
  
• Other cities and moffusils NRs. 20 million.
  
• Between any two cities the maximum carrying limit would be limited to NRs. 20 million.
  
• In cases where higher limits are required on specified occasions, nearest office is to be consulted.

All Cash-in-transit

• Upto NRs. 2.5 million – 2 Office person should accompany
• From NRs. 2.5 million to NRs. 10 million – 1 Armored guard and 1 office person
• More than NRs. 10 million – Minimum 2 Armored guards and 1 office person.

The cash in transit cover should be monitored for the actual cash carried on quarterly basis.

All Cash-in-safe

Maximum Limit

• NRs. 200 million only for Kathmandu Valley.
• NRs. 100 million for all other cities and moffusils areas within Nepal.

Cash-in-safe

• Up to NRs. 10 million – To be stored in safe, need not be wall mounted
• More than NRs. 10 million – Safe should be either wall mounted/strong room and     functional alarm system.
  

All Cash-in- safe at Army barracks are extension of bank premises.

The premium rate for this class of insurance can be assessed only after a careful study of all circumstances appertaining to the transit, in accordance with the details furnished in the proposal form and previous experience. The rates vary depending upon the distance of the journey, mode of carrying, precautions taken, and the maximum amount at risk at any one time and the estimated annual carrying.

Money in till and/or counter up to a reasonable limit during working hours at an additional rate on the sum insured.

RSMDST (Riot, Strike, Malacious Damage, Sabotage and Terrorism) )risks at an additional rate as fixed by the Insurance Pool, Nepal

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