FINANCIAL LOSS AND PROPERTY LOSS COVER

Policy indemnifies the Insured for all direct and pure financial loss and/or any physical damage to or destruction or physical loss of Property sustained by any Insured as a direct result of any theft, fraud, or robbery whether committed by an employee/employees or in collusion with others, with the intention to cause a loss to the Insured and/or to obtain an improper financial gain from the Insured and/or any Client.

CASH & VALUABLES LOSS COVER

• Policy indemnifies the Insured for any loss or destruction of Cash & Valuables located in the Premises, sustained by the Insured as a direct result of any Theft or Robbery whether committed by an employee/employees or in collusion with third parties.
• Policy also indemnifies the Insured for any loss of Cash & Valuables, sustained by the Insured as a direct result of any theft or Robbery not in the Premises whether committed by an employee/employees or in collusion with third parties.

LEGAL LIABILITY COVER

• Policy indemnifies the Insured for all financial loss sustained by Insured as a result of any Claim by a customer resulting directly from a criminal act committed by an employee.
• Policy also covers reasonable and necessary costs fees and expenses incurred by the Insured in the investigation and defense of any such Claim.

FEES AND EXPENSES COVER

Policy indemnifies the Insured for all reasonable costs, fees and expenses incurred with the prior written consent of the Insurer for any Consultant to determine the amount of any loss covered under this policy and any other determination, assessment and recommendation.

EXPECTATION DAMAGE COVER

• Expectation Damages refer to any amount claimed from Insured as a damage pursuant to a written contract with a Client, to the extent necessary to restore the financial position of the Client to that which existed immediately prior to the occurrence of the Criminal Act.
• Policy indemnifies the Insured for all financial loss sustained by any Insured as a result of any Claim by a Client for Expectation Damages incurred as a consequence of any covered Criminal Act committed against the Insured.

IT CRIMINAL ACT COVER

• IT Criminal Act refers to Data or Computer Program which the Insured has relied upon in good faith and which is fraudulently, dishonestly or maliciously prepared, created, damaged or deleted as a result of willful, unlawful and targeted intrusions into the Insured’s Computer System committed with the intent to cause a loss specifically and directly to the Insured.
• Policy indemnifies the Insured for all Financial Loss sustained by Insured as a direct result from any IT Criminal Act committed by Employee.

EXTENSIONS

Policy can be extended to cover cost incurred in respect of Counselling Services and IT Consultant Services.

LIMITS

Separate Limits of Insurer’s liability can be mentioned in the Policy in accordance with exposure.