Fidelity Guarantee Insurance

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Fidelity Guarantee Insurance

Coverage against a direct pecuniary loss sustained by reason of fraud/dishonesty

Fidelity Guarantee Insurance policy provides cover against the financial loss suffered by the Insured as a result of fraud/dishonesty of employees of the insured up to the maximum limit selected for insurance per employee.

Risks Covered

Theft of funds committed by the employees
Coverage for loss of business assets such as property, stock certificates or any other assets
Protection against loss of customer’s property caused by dishonest acts of an employee
Protects the business from financial crises coming from a small portion of the workforce (dishonest employees) which can affect the entire business and other employees.
Protects the reputation of business along with ensuring absolute transparency in supervision and accountability requirements within the business.

Exclusions

Suppression of facts at the time of taking the policy
Loss due to non-observance or relaxation of system of checks and precautions
Losses discovered after more than 12 months after the termination of the service of employee concerned
Inventory losses
Any loss resulting directly or indirectly from trading in securities
Consequential losses of any kind
Legal Liability arising out of the act of the employee

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