Cash-in-transit risk
Transporting cash and monetary valuables is one of the activities most exposed to security risks. When funds are moved between offices, branches, points of sale, and financial institutions, businesses may face the risk of robbery, theft, or loss of cash due to various unforeseen events.
Cash in Transit (CIT) Insurance is designed to protect businesses and financial institutions against losses that may occur during the transportation of cash, cheques, valuable documents, or other financial instruments.
This product is particularly important for banks, security companies, retail networks, businesses with high cash turnover, and any entity that regularly transports cash or monetary valuables. Through this insurance, organisations can operate with greater security and confidence, reducing the financial impact of potential incidents.
The price is calculated based on the maximum amount of money transported per journey, the estimated number of journeys made during the year, the routes followed, and the security measures used during transit.
This insurance is intended for banks, retail chains, security companies, and any business with a high cash turnover that regularly transports money or valuable documents.
To take out this insurance policy, the business must provide an extract from the National Business Centre (QKB), details of the vehicles and individuals responsible for the transportation, a record of its daily or annual turnover, and a declaration of the maximum amount of money to be transported in a single journey.
