Banker’s Blanket Covers
October 18, 2020 2023-11-14 9:48Banker’s Blanket Covers
Banker's Blanket Insurance
Banks and Financial Institutions recognise the risks associated with their operations and the exposures from within as well as external. It is therefore important that a risk transfer mechanism is set in place to safeguard against all the odds. The Banker’s Blanket Insurance is purposely designed for the banks and financial institutions considering their unique needs for coverage. Bankers Blanket Cover covers various “insuring clauses” to encompass various contingencies to suit specific needs. The following are the insuring clauses available:
This clause provides coverage for loss and/or damage to insured’s property due to various perils including fire whilst in the premises where the insured carries on business and other specified places which should clearly be defined while opting for this clause.
This clause provides coverage for loss and/or damage to insured’s property whilst in-transit to and from premises along the defined geographical area.
This clause covers securities of the insured (Stock, Certificates, Bonds, and other Governmental guaranteed authority stocks etc) whilst in insured premises or others due to loss and/or damage resulting from named calamities.
This clause provides coverage for loss and/or damage caused by fire and other perils to the office. The contents of the insured’s premises should specifically be named whilst opting for this coverage.