For the Unauthorized Transactions benefit, this Policy does not cover:
- charges incurred by the Insured’s Family, or by a person the Insured has authorized to use his/ her Payment Cards;
- Payment Cards that are for business or corporate use;
- transactions made or authorized by the Insured or the Insured’s authorized user using a One Time Password (OTP), PIN, password, Biometric Security and/ or any similar online and mobile banking security services;
- Theft of the Insured’s Payment Cards from a vehicle where the Insured’s Payment cards are on view, regardless if the vehicle is locked or unlocked;
- when the Payment Card has been delivered to a person other than the one to which it was intended for;
- when the Payment Card issuer has failed to comply with the contractual obligations with the relevant governing bodies;
- when fraudulent acts committed like the theft or misuse of any data or databases under the control of the Payment Card issuers or by its employees or dependents;
- when there has been a failure in the software or hardware under the control of the Payment Card issuers.