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Additional Insurances - Cash in Transit and Money Insurance
Shipowners often require large amounts of cash to be delivered to ships in foreign ports, and should take out insurance to cover any losses. However, if the cash is transferred via the ship agent's bank account, the agent will need his own insurance.
ITIC can offer a unique insurance package which not only covers monies temporarily in an agent's care, while in transit to a ship, but can also be extended to include monies, including petty cash, kept in the Members' office or at his residence overnight, including cash, banknotes, endorsed cheques, etc. when kept in a locked strongroom or safe.
This combination of cash-in-transit and petty cash insurance offers Members the convenience of a single policy at a competitive premium. The cash-in-transit insurance is available on an annual or individual basis.
Only brief underwriting information is required. Simply complete a Cash in Transit proposal form and return it to your underwriter at ITIC, or your insurance broker, to obtain a quotation. The cover is only available to Members of ITIC.