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Fidelity Guarantee Policy (Type of policy (Position (Covers named …
Fidelity Guarantee Policy
It covers well establish or organization i.e.
organization or firms with proper accounting
procedures, full annual audit and effective systems
Type of policy
Position
Covers named
position without
names of employees
being indicated
Blanket
Covers all employees without show the names of
guaranteed person irrespective of positions held and
indemnity up to started amount in respect of acts of one
or more employees
Floating
Specified for the whole group rather
than for each individual
Collective
This policy covers a group of employees
Individual
Covers individual persons named in the policy for a stated amount
Excluded Peril
To any employee who has had prior
convictions of any fraudulent or
Errors in book keeping and or losses
discovered during stocktaking
Espionage, blackmailing, exportation,
libel and similar risk
The policy indemnifies you as an employer against
any direct loss of pecuniary that you may sustain
through acts of dishonesty by your employees
Embezzlement
Defalcation
Forgery
Fraudulent conversion
Condition
cancellation
terms
claims
period of insurance
Interpretation
duty of disclosure