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Fidelity Gurantee
This insurance policy indemnifies the insured for financial losses sustained by due to Forgery, Embezzlement, Larceny and/or Fraudulent conversion committed by the insured's employees (as named in the policy schedule), entrusted with money and/or property.
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POLICIES can be issued as under:-
- • Named Individual Employee – Limit of Indemnity as agreed.
- • Group of Employees – Named Employees for Limit of Indemnity specified against each.
- • Floater or Floating Policy – Covers all employees on Employer’s roll upto a specified limit of annual indemnity for acts committed by anyone or all employees during the Policy Period (Employees may not be named).
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Employer shall maintain and shall not change the systems of control, checking, reconciliation or accuracy of accounts and stocks dealt with by the employee.
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Relationship of employee and employer must exist.
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Upon discovery of any of the acts giving rise to a claim, the indemnity in respect of that particular employee shall come to an end.
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Policies are issued for a determined geographical limit agreed for the places of employment.