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Property is liable to be lost by burglary and an Industrialist or trader requires protection against such risks, Burglary Insurance affords such protection.


1. Burglary or house breaking of property following upon felonious entry of the premises by violent and forcible means.

2. Theft by person in the premises who subsequently breaks out by violent means and forcible means.

3. Damage to the premises by the burglars be made good by the Insured.


The property that can be covered under this policy:

1. Stock in Trade.

2. Goods in trust or on commission for which the insured is responsible.

3. Fixtures, fittings and utensils in trade.

4. Cash in currency notes secured in locked safe.


The term FG embraces policies indemnifying employers against financial loss on account of forgery, defalcation, embezzlement and fraudulent conversion by employees. The object is to provide protection in respect of the default of an individual acting in some capacity such as Cashier, Accountant, Store-keeper etc. the cover may be required in respect of a single employee or a number of employees.


Coverage:

1. The cover is in respect of loss caused by acts of forgery.

2. Embezzlement

3. Fraudulent conversion of money or stock in trade, upon the extent of the sum insured


Not covered:

1. The company shall not be liable of loss arising elsewhere then in Bhutan.


5. Cash in safe:

A special type of burglary insurance is cash in safe insurance, here in addition to the general considerations applicable to burglary. The special considerations for acceptance and rating are

1. Make of safe

2. Year of manufacture

3. Rough dimension and weight of the safe (should be large enough, not be easily carried away)

4. Whether marked Fire and/ or Burglary resisting

5. Where and on which floor is the safe situated?

6. Is it fixed either to the floor or wall, if so how?

It may be noted that cash in safe may be insured either in money in transit policy or Burglary policy, where cash in safe cover is required along with money in transit policy, particularly when money is kept overnight in the safe, money in transit policy should be issued otherwise burglary policy should be issued.


6. Cash in transit:

Loss of money in transit by the Insured or Insured’s authorized employees occasioned by robbery, theft or any other fortuitous cause


Coverage:

1. This insurance covers loss of money, i.e. currency notes, coins, bank notes, cheques, postal orders, money orders and current postage stamps whilst in transit between the Bank and the business premises, between the business premises and the post office, railway office, Transport Company’s office, work site etc.

2. This type of policy is an all risk policy and covers losses due to snatching, hold up, etc. Even infidelity of the employee carrying cash is also covered to a limited extent i.e. when the employee carrying cash runs away with it.


7. Personal Accident and Group Personal Accident:

This policy is designed to provide financial relief in the event of death, disablement or injury arising out of accidents. The policy provides for a TABLE OF BENEFITS for various eventualities giving rise to claim under the policy such as Death, Permanent disablement, temporary disablement, temporary disablement etc.