Saudi Indian Company for Co-operative Insurance (SICCI) is a joint stock company established in the Kingdom of Saudi Arabia as per Royal Decree No. M60 dated 18/09/1427H. SICCI is a joint venture between Fawaz Al Hokair Group of Companies, KSA, Life Insurance Corporation of India, The New India Assurance Company Limited, India and Life Insurance Corporation (International) B.S.C.(c), Bahrain
The Policy covers money:
Policy Details
(a) in locked safe/ strong room
(b) whilst anywhere within the insured's premises
(c) In transit Subject to limits of liability specified in the policy Schedule including limit for any one occurrence.
(d) Additional Coverage: Policy also covers loss/damage to any safe/strong room during the course of burglary/attempted burglary upto a limit not exceeding 2% of Cash-in safe Limit of liability of the particular safe.
(b) whilst anywhere within the insured's premises
(c) In transit Subject to limits of liability specified in the policy Schedule including limit for any one occurrence.
(d) Additional Coverage: Policy also covers loss/damage to any safe/strong room during the course of burglary/attempted burglary upto a limit not exceeding 2% of Cash-in safe Limit of liability of the particular safe.
The term "Money" means and includes Bank Drafts, Currency notes, cheques, Postal Orders excluding personal cash employees or others.
Pre-requirements of Money Insurance:
1. Alarm Systems, Security systems and protective Devices, are fully operational and maintained by the Insured.
2. Books and all keys are maintained by the Insured as per conditions laid down in the Policy.
3. when loss is noticed, the insured is immediately expected to notify the insurer and the Police authorities
2. Books and all keys are maintained by the Insured as per conditions laid down in the Policy.
3. when loss is noticed, the insured is immediately expected to notify the insurer and the Police authorities