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COLFIRE cover is provided for Cash in Transit, as well as on the premises.

Circumstances under which money may be covered

Money may be covered:

  • Whilst in transit (e.g. from the insured's premises to the bank)
  • On the premises during business hours
  • On the premises outside business hours in a locked safe or a strongroom
  • At the private residence of the insured or authorized persons
  • In the personal custody of collectors

Scope of cover

The insured is covered against loss of money used for the purposes of the business from any cause not excepted. The policy is 'all risks' in nature and while the main concern is burglary and hold-up, such incidents as fire, flood, hurricane and earthquake are all covered.

Cover can also be effected against loss of or damage to safes or strongrooms caused by theft or attempted theft. Compensation in the event of employees being injured, or their clothing and personal effects being lost or damaged during a hold-up, could be included on the policy.

Special Provisos

A complete record of money in transit and on the premises must be kept, such record to be kept in a place other than in the safe or strongroom where the money is kept.

The keys to the safe or strongroom must not be kept on the premises after business hours if the premises are unoccupied after business hours. If the premises are occupied after business hours the keys must not be kept where the safe or strongroom is situated. This proviso is known as the 'key clause'.

The above explanations give a summary of the type of cover available. For full details, including the exclusions and conditions that apply, please contact us at any of our offices.


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