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13.5 Insurance Policy

N 35/2018 STA
  1. 13.5.1The Licensed Person must at all times be fully covered by a valid insurance policy issued by an insurance company licensed within the UAE. The following insurance cover must be available, at a minimum:
    1. a)Various risks related to internal and external frauds (i.e. Bankers Blanket Bond Insurance/Crime Insurance). Employees infidelity/dishonesty, counterfeit incidents, theft and allied risks must be adequately covered including the cash in the Safe/Vault, cash with the teller and cash in transit;
    2. b)Electronic/Computer Crimes (ECC) and Cyber Crimes;
    3. c)Electronic Equipment;
    4. d)Fire, theft and other allied risks; and
    5. e)Third party liabilities.