Safe depository coverage

{
  "id": "MLC-T-INS-003009",
  "term": "Safe depository coverage",
  "field": "Insurance and risk management",
  "definition": "Insurance that protects a financial institution or other business acting as a depository against liability for loss of or damage to customers' property stored in safe deposit boxes. The policy covers losses resulting from the depository's negligence, such as failure to secure the premises, leading to theft or damage. It is a form of liability insurance for the depository, distinct from property insurance that a box renter might purchase for the contents.",
  "url": "https://mlchart.com/terminology/insurance/safe-depository-coverage/"
}