FIDELITY GUARANTEE INSURANCE (EXCLUSIONS (to employee who has prior…
FIDELITY GUARANTEE INSURANCE
The policy indemnifies you as an employer against any direct loss of pecuniary that you may sustain through acts of dishonesty by your employees
SUCH ACT INCLUDES:
TYPE OF POLICIES
Covers individual persons named in the policy for a stated amount
Covers named position without names of employees being indicated.
The sum insured is a specific amount corresponding to the position and subject to an aggregate limit per period of insurance
Covers group of employees
The insured decides the specific amounts guaranteed for each named of individual employee covered according to his/her responsibilities and position.
An extension of collective policy where the sum insured is specified for the whole group rather than for each individual.
The sum insured is reduced as each claim is made and an extra premium is needed to reinstate the cover.
Covers all employees without show the names of guaranteed person irrespective of positions held and an indemnity up to stated amount in respect of acts of one /more employees.
The sum insured is fixed anyone loss and in the aggregate anyone period of insurance.
FEATURES OF COVER
Covers the insured's pecuniary loss/good belongings to the insured due to the act of fraud/dishonesty committed by his/her (Insured) employees:
during the period of insurance stated in the schedule
during the uninterrupted continuance of employment of such employee
In connection with occupation and duties of such employee
to employee who has prior convictions of any fraudulent/dishonest act/is under investigation on such a charge.
errors in book keeping and/losses discovered during stocktaking
Espionage,blackmailing,extortion,libel and similar risk
Loss arising out of any activity transacted via internet/insured's own website etc
any indirect/consequential loss
Any third party losses
Stocktaking/ inventory losses
War & related risk
Radioactive and nuclear energy risks
Any act of terrorism