Commercial Banks and Financial Institutions recognize the risks, both external and internal, associated with their operations. It is therefore vital that the “right insurance protection” is in place for transferring most of their exposures.
The Banker's Blanket Bond is a “package insurance protection” specifically designed for banks and financial institutions to offer protection to their assets and liabilities.
- Any loss due to misappropriation or embezzlement by dishonesty on the part of your employees.
- Loss &/or damage to your property due to various perils including fire whilst on the premises where business is carried out in addition to other specified places.
- Loss &/or damage to your property whilst in-transit to and from premises within the defined geographical area.
- Loss caused due to forgery or alteration (Expression forgery means the forging or fraudulent alteration of any document or the uttering of any forged or fraudulently altered document by the employee(s) whereby one obtains possession of monies or goods.)
- Securities (Stock, certificates, bonds, and other governmental guaranteed authority stocks etc.) whilst in insured premises or others due to loss &/or damage resulting from named calamities.
- Loss resulting in the acceptance of counterfeit currency by the teller or other charged employee of the insured provided normal and standard procedures and precautions are fully exercised.
Separate sub -limits within the overall limit could be considered for other extensions like:
- Automated Teller Machines
- Safe Deposit Vaults
- Professional Indemnity
- Computer Crime
- Unexplained losses
- War, terrorism and sabotage
Period of Insurance
The coverage is usually provided for a period of one year.
The policy may have a time or a monetary deductible.
Presale and After Sale Services
We have a professional and experienced team of underwriters who can assist you:
- in the proper understanding of insurance’s coverage
- in answering your queries
- in advising you on the information required by underwriters to quote terms
- in completing the proposal form if applicable
- in advising you on covers to meet your requirements
You must alert us of any accident that may lead to a claim covered under the policy, and our team of experts will assist you in the quick settlement of the claim.
Premium rates are based on:
- Number of employees handling cash
- Limits of exposures
- Employees’ status and credibility
- Internal checks and control procedures of the assured
- Management and operational standards
Please note that for the easy understanding of the insurance policy, we have highlighted the important aspects. We will be glad to receive your queries and discuss the full set of policy terms, conditions and exclusions.
Call us as soon as possible, in case of an accident, and our team of experts will guide you through the claim process. For more information, please contact Nasco Dubai at +971 4 352 3133.