This policy provides cover for the loss of University money whilst in transit anywhere within the United Kingdom, or whilst on University premises.
There are limits to the sums of money that can be held on the premises both in and out of a locked safe of £1,750 and £500 respectively. There is a restriction on the sum that can be carried by an individual, whilst travelling to the Bank.
Money Escort Warranty
Insurers stipulate the amounts of cash in transit that can be transported on campus to a bank by individuals for that insurance cover to be in force as follows:-
- Up to £3,000 by one able bodied person.
- £3,000 to £10,000 by two able bodied persons.
- In excess of £10,000 must be by a Security carrier.
It is important that these limits are not exceeded as this will invalidate the insurance if there was to be a claim to be submitted. Please note also that the use of fleet vehicles or private vehicles for transporting cash around the campus is not allowable.
It is a condition of this policy that, outside the normal working hours of the University, all safe keys must be removed from the site where the safe is located and retained in the custody of responsible employees.