Bankers Idemnity Insurance


Banks and Financial Institutions handle humungous transactions on day to day basis. They are prone to variety of risks ranging from an accidental fire, act of god, to negligence of employees or third party services and as well as planned fraudulent acts. It can have significant impact on the bank’s balance sheet and stakeholder’s faith in operations of the bank. Bankers Indemnity Insurance provides to cover financial losses arising out of the above acts. It is a comprehensive umbrella cover.
  • The basic banker indemnity insurance covers are enumerated as below:

    1. On Premises :- Covers money and/or securities belonging to, or in the custody of bank, whilst on their own premises or on the premises of their bankers, against loss or destruction by Fire, Riot & Strike, Malicious damage, terrorist act, burglary ,theft ,robbery or hold-up.
    2. In Transit :- Covers money and/or securities if they are lost ,stolen, misappropriated or made away with, whilst in transit in the hands of its employees whether by negligence or fraud of the employees.
    3. Forgery or Alteration :- Covers losses suffered as a result of bogus or fictitious or forged or raised cheques and/or drafts and/or genuine cheques and/or Travellers' cheques and/or drafts and / or Fixed Deposit Receipts.
    4. Dishonesty :- Covers loss of money and/or securities suffered due to dishonest or criminal act of its employees whether committed singly or in connivance of others.
    5. Hypothecated Goods :- Covers losses suffered due to fraudulent or dishonest act of employees in respect of goods or commodities pledged or hypothecated to the bank and under its control.
    6. Registered Postal Service :- Covers loss by robbery theft on by other causes not herein excepted whilst in direct transit or intended to be dispatched by Registered Insured Post from the office of the Bank to the consignee .
    7. Appraisers :- Covers loss due to infidelity or criminal act on the part of appraisers, provided that such appraisers are on the bank’s approved list.
    8. Janata Agents :- Covers loss due to robber, theft or hold up, infidelity of criminal acts on the part of Janata Agents, Chhoti Bachat Yojana Agents/Pygmies Collectors.

At Anand Rathi we specialize in providing tailor made Banker Indemnity Insurance which seamlessly weaves into the perils and risks faced by Banking Operations of today’s world.