FIDELITY GUARANTEE INSURANCE (TYPE OF POLICIES (Collective (Covers a group…
FIDELITY GUARANTEE INSURANCE
This policy indemnifies you as an employer against any direct loss of pecuniary that you may sustain throught act(s)of dishonesty by your employees.
Such acts include
TYPE OF POLICIES
Covers individual persons named in the policy for a stated amount
Covers named position without names of employees being indicated. SI is a specified amount corresponding to the position and subject to an aggregate limit per period of insurance
Covers a group of employees
the insured decides the specified amounts guaranteed for each named of individual employee covered according to his or her responsibility and position
An extension of collective policy where the sum insured is specified for the whole group rather tahn for each individual. SI reduced as ach claimis made an extra premiumis neede to reinstate the cover.
Covers all employee without show the names of guaranteed person irrespective of position held and an indemnity up to stated amount in respect of acts of one or more employees.SI is fixed for anyone lossand in the aggregate anyone periodof insurance
FEATURES OF COVER
During period of insurance stated in the schedule
During uninterrupted continuance of employment of such employee
In connection with occupation and duties of such employee.
Period of Insurance
Duty of Disclosure
Nature of business to be insured and how effectively operated
Number of Class A and total employees, number of locations
Loss experience and loss prevention measures
Financial condition and size of operations
Character of principals and regulatory history