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FIDELITY GUARANTEE INSURANCE (Condition (cancellation, terms, claims,…
FIDELITY GUARANTEE INSURANCE
Various of policies
POSITION
Covers named position without names of employees being indicated
BLANKET
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
INDIVIDUAL
Covers individual persons named in the policy for a stated amount
FLOATING
Specified for the whole group rather than for each individual
5.COLLECTIVE
This policy covers a group of employees
Excluded Peril
To any employee who has had prior convictions of any fraudulent or dishonest
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
Such acts include
Defalcation
Embezzlement
Fraudulent conversion
Forgery
It covers well establish or organization i.e. organization or firms with proper accounting procedures, full annual audit and effective systems
Condition
cancellation
terms
claims
period of insurance
Interpretation
duty of disclosure