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HDFC Chubb Liability Insurance |
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Commercial Crime
What is covered?
Employee Theft Coverage:
Loss of money, securities or other property by theft or forgery by an identifiable employee of the insured
Premises Coverage:
Losses sustained due to the destruction, disappearance or wrongful abstraction or computer theft of money or securities within or from the insured´s premises by third parties.
Transit Coverage:
Losses sustained due to the destruction, disappearance or wrongful abstraction of money or securities outside the insured´s premises by a third party, while being conveyed by the insured, an armoured motor vehicle company or any person authorised by the insured.
Depositors Forgery Coverage:
Losses resulting from instruments such as cheques fraudulently drawn on the Insured´s accounts by a third party.
Computer Fraud Coverage:
An extension to cover losses sustained by the Insured due to computer fraud by a third party including cover for expenses incurred by the Insured due to a computer violation.
Investigation Costs cover:
Reasonable expenses incurred in establishing the existence and amount of any direct loss in excess of the deductible.
General Exclusions:
• Losses due to war, civil war, insurrection, rebellion, revolution, military action or governmental intervention or expropriation.
• Losses caused or contributed to by the theft or fraud of the Insured´s partner.
• Loss involving the cost of reproducing any information contained in lost or damaged manuscript, records, accounts etc.
• Expenses incurred by the Insured in establishing existence or amount of any covered loss.
• Loss of Income.
• Loss of trade secrets.
• Fees or expenses in prosecuting or defending any legal proceedings.
• Loss, unless reported, in accordance with the provision of the policy regarding notification of loss.
• Losses not reported within sixty (60) days of the policy's termination or within one (1) year of voluntary liquidation/dissolution of the Insured.
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