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In March 2021, burglary took place in a business firm, when some person trespassed and broke open the doors and ₹1.23 lakhs cash was stolen. Thereafter, the firm lodged a claim with the insurance company. The firm had taken a policy from the Company in May 2020 which covered the risk of theft of cash as well as goods and machinery. Explain as per the policy, if the claim will be processed? |
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Answer» This policy does not cover such claims unless specially mentioned in the Schedule and expressly insured by the policy, As per the Policy Wording - Burglary and Housebreaking Insurance. Loss of money and / or other property abstracted from the safe following the use of key to the said safe or any duplicate thereof belonging to the Insured, unless such key has been obtained by assault or violence or any threat thereof. |
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