Businesses that operate with cash continually face the risk of losing funds due to theft, robbery, or other unforeseen events. Despite the security measures taken to safeguard monetary valuables, the risk cannot be completely eliminated. For this reason, cash-in-safe insurance is an important element of financial risk management.
Cash in Safe (CIS) Insurance is designed to protect businesses against financial losses resulting from the theft or robbery of cash kept on their premises. This product is suitable for companies, financial institutions, points of sale, supermarkets, hotels, and any other entity that keeps cash in safes or secured areas.
This insurance helps businesses maintain financial stability and minimise the impact of unexpected losses by providing financial support in the event of an incident covered under the policy.
For this insurance, the business must provide its identification documents (an extract from the National Business Centre—QKB), the safe’s technical specifications, details of the security measures in place (such as cameras and an alarm system), and a declaration of the maximum amount of money to be stored in the safe,
The policy covers the financial loss of cash and monetary valuables kept inside the safe if they are stolen through forcible entry, robbery involving violence, or the forced circumvention of security measures.
This insurance contract is generally concluded for a standard period of one year. Upon expiry, the business must renew the policy and review the insured cash limits if they have changed.
