Burglary insurance has been a standard insurance product for long. The Package Policies floated by many Insurers do extend sectional coverage against burglary. This insurance provides indemnity in respect of loss of or damage to any part of the property insured whilst within the premises as a direct result of burglary happening during the period of insurance. The policy interprets ‘burglary’ as to mean actual theft or an attempt thereat
a) accompanied by an actual forcible and violent entry into or exit from any building at the premises orb) following assault or violence to any person or threat thereof.
The Policy has some exclusions too… all policies expect the Insured to be prudent and not contribute to the loss in any manner… this policy excludes ‘where such loss or damage has been expedited or any way assisted or brought about by any such person or persons’……….. and as caution or as to incorporate additional protection for the Insurers – Underwriters incorporate warranties of additional security…….
One such warranty imposed is ’24 hour watch and ward warranty’ – which often provides possibility of varied interpretations … whether it is intended to ensure the premises adequately guarded during the night time or do the Insurers really want a security during the day time too – when the policy holder would feel – the employees (of various cadres) themselves are necessary protection.. Again, whether the guard facility should be exclusive or ‘name-sake guarding’ (patrolling) done in the night for the entire complex / colony ! ~ more thoughts could flood at a time, when you realize that most ATMs in the country do not either have security or manned by security (!) personnel – not fit enough to walk !! – leave alone safeguarding or running after a criminal. ~ and how would an Insurer treat the CC TV monitoring… is that a safeguard ? – in some claims handled – the system either does not work, does not show any clarity in the night time, the angle is not proper, does not have a recording facility or the intruder easily cuts off the system………
The article that appeared in TOI Chennai edition reproduced below – offers good lessons for all traders as also for Insurers. Here is it : ‘CCTV monitored in Mumbai averts break-in at Chennai store’
Chennai: An alert security officer monitoring live CCTV footage from Reliance supermarkets across the country helped prevent a break-in at the company’s outlet in Madipakkam, near Pallikaranai, past midnight on Sunday. The officer saw a man force open a shutter and break a glass window to enter the outlet. He called up the manager of the Madipakkam store, who informed the Pallikaranai police about the burglar.
Pallikaranai police inspector Anthony Chelladurai said 40-year-old Thangaraj, a native of Villupuram, scaled a compound wall and entered the store using a crowbar. He immediately made for a cash locker and tried to break it open. The security officer in Mumbai had by then issued the alert. “Thangaraj tripped an alarm but wasn’t aware of it because it sounded in Mumbai,” Chelladurai said.
