What do members need to be aware of when it comes to insuring money on the premises?

It is strongly recommended that these limits are checked against anticipated trading projections to ensure the cover is adequate and any conditions or warranties are complied with. For example, when taking cash over a certain limit to a bank, there will be a “carryings condition” stipulating how much money any one person can carry on their person and could even stipulate what the money is carried in.

The definition of “Money” will include cash, bank and currency notes, cheques, postal orders, money orders and crossed banker's drafts.

Disclaimer
Whilst all reasonable care has been taken in the preparation of this publication no liability is accepted under any circumstances by Jardine Lloyd Thompson for any loss or damage occurring as a result of reliance on any statement, opinion, or any error or omission contained herein. Any statement or opinion reflects our understanding of current or proposed legislation and regulation that may change without notice. The content of this document should not be regarded as specific advice in relation to the matters addressed.

JLT Business Insurance Services is a division of Jardine Lloyd Thompson UK Ltd who are authorised and regulated by the Financial Services Authority under No. 310419. The SFMTA are introducer appointed representatives of Jardine Lloyd Thompson (UK) Limited.