ATI’S DEPOSIT PROTECTION INSURANCE (CORPORATES ONLY)
A: Extent of Cover
Insurance Cover extends to all contracts for the deposit of funds made with the named Bank by the Insured in the course of trade in the Risk Countries specified, where the funds deposited have been demanded within the Insurance Period. Insurance Cover begins when the Insured or its Agent has issued a payment Demand for the funds to the Bank during the Insurance Period.

B: COVERED RISKS – INSOLVENCY
The following risks are covered once specified in the Insurance Offer Letter
a. A bankruptcy or winding-up order is made against the Bank or an effective resolution is passed for the winding up of the Bank, or
b. An administration order is made or an administrator is appointed in respect of the bank, or
c. The execution of a judgement against the Bank fails to satisfy an Insured Debt in full, or
d. A valid settlement or other arrangement is agreed by the Bank’s creditors for their general benefit
Provided that if any of the above occurs, it must be pursuant to the laws of the Risk Country.
FILING OF CLAIMS
Claims must BE filed within 180 days of the Date of Loss.
C. COVERED RISKS – PROTRACTED DEFAULT
The insurance against Protracted Default shall cover a loss resulting from the failure of the Bank to pay all or part of an Insured Debt before the expiry of the Protracted Default Period.
D. RISKS NOT COVERED
Policy will not insure any loss incurred which is directly caused by:
a. Trade in funds intended for military or para-military purposes
b. Corrupt practices or money laundering attributable to the Insured, or its permitted Agents and assigns,
c. The use of harmful child labour or forced labour, in each case attributable to the Insured, or its permitted Agent and assigns,
d. The failure or the refusal of the Bank to accept funds deposited, unless such refusal is in breach of the Deposit Contract,
e. Political risks such as War, (whether declared or not), invasion, acts by foreign enemies, civil war, rebellion, riot, sabotage, terrorism, insurrection, military or usurped power, or due to the order of any government, public or local authority or by any restrictions on or the transfer of funds,
Policy will also not indemnify where there are other existing policies for the same risk.