It covers loss sustained through any acts of fraud or dishonesty committed by an insured employee. Employers transfer the risk of loss of money /precious properly stolen by their dish honest employee (cashers, storekeepers, sales persons, etc).

It covers loss of money sustained as a result of fortuitous circumstances including through unlawful acts of other persons such as burglars or thieves. This loss or damage can be either:-

1. to any safe or strong room belonging to the insured, or

     2. while in transit from the premises /bank to  .bank /premises