What are some of the general conditions of the policy?

  • Notice you will give every notice and communication in writing to OUR office through which this insurance is affected.
  • Misdescription This Policy shall be void and all premium paid by YOU to US shall be forfeited in the event of misrepresentation, misdescription or concealment of any material information.
  • Changes in Circumstances Unless WE are advised and OUR written approval be obtained, WE shall not be liable under this Policy –
    • In the event of any change in the nature of YOUR business or if the duties and conditions of service of employee shall be changed or if the remuneration of the Employee be reduced or its basis altered or if the precautions stated by YOU with regard to accounting be not duly followed or if YOU shall continue to entrust the employee with the monies or goods after having knowledge of any fact bearing on the honesty of the employee.
    • In the event of Checks for securing accuracy of accounts and stocks stated in the proposal not being duly observed.
    • Identification of Employees For the purpose of identifying employee in all cases of change of residence or occupation or change of name whether by marriage or otherwise, due notice thereof in writing shall be given by YOU, to US.

  • Limit of Liability : OUR liability under this Policy and/or any other Policy in respect of any defaulting employee shall not exceed the amount of Indemnity mentioned against his name.
  • Fraud If any claim under this Policy is fraudulent in any respect with or without YOUR knowledge or if any fraudulent means or devices are used by YOU or on YOUR behalf to obtain any benefit under this Policy, all benefits and rights under the Policy shall be forfeited.
  • Contribution If YOU are or will hereafter be guaranteed by any other person, society or company or hold other security or Insurance against such loss as is hereby guaranteed against, WE shall bear the loss in rateable proportion only.