Paymaster Robbery Insurance
Definition of "Paymaster robbery insurance"
Coverage for robbery of the payroll of a business. Coverage applies to money and checks from the time the payroll is withdrawn from the bank until it is distributed to the employees, whether inside or outside of the premises of the business. Employees are covered if robbed of their pay when the business itself is being robbed of the payroll. Excluded are manuscripts and records of accounts.
Popular Insurance Terms
Refusal by an insurance company to underwrite a risk. ...
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Method of operation. ...
Policy under which the insurer will pay the actual cash value of the property at the time the property was damaged or destroyed provided the loss falls within the limitations of the policy. ...
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