Amravati Dist. Central Co-Op Bank Ltd vs United India Fire&Genl.; Insurance ...

The Supreme Court examined the terms of a Banker's Indemnity Insurance Policy under which the insurer was obligated to indemnify the bank against losses caused by acts or omissions of its employees. The Court held that the insurer's liability is contingent upon the direct loss of money or securities sustained by the insured during the policy period, as per the policy's terms. The judgment clarified the interpretation of coverage under the policy, emphasizing the need for clear evidence of loss directly linked to the insured events as defined in the policy.