This policy provides protection to financial institutions against financial loss as a result criminal activities like, employees infidelity & theft, embezzlement, forgery, hold-ups and fraud.
Bankers Blanket Insurance
What is Bankers Blanket Insurance
- Cyber and computer crime
- Loss of property on premises
- Loss (of money and other valuables) whilst in transit
- Forgery or fraudulent alteration of checks, bills, drafts, money orders, etc.
- Losses incurred by the insured in the ordinary course of the business whilst dealing with securities such as share certificates, stocks, bonds, debentures, promissory notes, deeds, mortgages, certificates of deposits, letters of credit, etc.
- Loss incurred by the insured due to receipt in good faith of any counterfeited or altered paper currency
- Loss of or damage to offices and contents, which includes but is not limited to furnishings, fixtures, equipment, stationary, etc
- Loss or damage to ATMs and cash in the ATMs
A banker blanket cover can be taken by Banks, Saccos, and even Microfinance.
A financial institution will not require a separate money cover as long as they have taken up the Bankers Blanket policy.
Yes, the BBB policy takes care of all the branches declared at the point of cover inception.