 The
Money Insurance Policy covers loss of money from any cause
(subject to certain exceptions) whilst in specified transits
and whilst on the Insured's premises. Money is defined as
Bank Notes, Currency Notes and Current Coin, Cheques, Postal
Orders, Money Orders and Current Postage Stamps. Scope of
Insurance cover is normally divided into two sections:
(1) Money in Transit and
(2) Money whilst on the Insured's Premises. Unless otherwise
agreed, the transit of money must be completed on the same
day. The term "MONEY" shall mean bank Notes,Currency
Notes, Current Coin, Postal Orders, Money Orders and Current
Postage Stamps. Money drawn from the bank for the payment
of wages and salaries is covered whilst in transit and until
paid out provided that all money not paid away on the same
day as drawn is kept in a locked safe or strong room out of
business hours.
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