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fidelity guarantee policy (Condition (terms, cancellation, period of…
fidelity guarantee policy
Excluded Peril
Errors in book keeping and or losses discovered during stocktaking
Espionage, blackmailing, exportation, libel and similar risk
To any employee who has had prior convictions of any fraudulent or dishonest act
Type of policy
Collective
This policy covers a group of employees
position
Covers named position without names of employees being indicated
This policy covers a group of employees
Individual
Covers individual persons named in the policy for a stated amount
floating
Specified for the whole group rather
than for each individual
It covers well establish or organization i.e. organization or firms with proper accounting procedures, full annual audit and effective systems
Condition
terms
cancellation
period of insurance
claims
duty of disclosure
Interpretation
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
Forgery
Defalcation
Fraudulent conversion
Embezzlement