FIDELITY GUARANTEE INSURANCE

WHAT IS COVERED?

BASIC COVER

The Company will indemnify the Insured all such direct pecuniary loss arising from all acts of fraud or dishonesty committed by any of the Insured’s Employees, not exceeding the Amount of Guarantee specified in the Schedule:

  1. during the period of insurance; and
  2. during the uninterrupted continuance of the employment of the Employee; and
  3. in connection with the occupation and duties of the Employee. and discovered during the period of insurance or within twelve (12) months of the termination of this Policy or within twelve (12) months of the death, retirement or resignation or dismissal of the defaulting Employee whichever shall first happen.

 

 

ADDITIONAL INFORMATION

·        Security Guards and Security Measurement at the premises including Theft Alarm.

·        Internal control to prevent fraud or dishonest acts.

·        Authorized person to lock the room

·        Safe box name, detail safebox

·        Financial Statement if available to share.

WHAT ARE EXCLUSIONS?

This Policy shall not cover:

  1. For more than the Amount of Guarantee stated in the Schedule notwithstanding that the act or acts of fraud or dishonesty were committed by the Employee during more than one period of insurance of this Policy or any other Policies written by the Company.
  2. Any loss, or that part of any loss, the proof of which as to either its factual existence or its amount, is dependent upon an inventory computation or a profit and loss computation.
  3. Any loss for which the Insured is unable to designate the specific Employee(s) committing such acts of fraud or dishonesty.
  4. Any loss arising from any act or acts of fraud or dishonesty committed by an Employee after the Insured shall reasonably be expected to have knowledge or information of any act or acts of fraud or dishonesty by such Employee or reasonable cause for suspicion of any such act or any want of integrity on the part of such Employee whether committed whilst in the employ of the Insured or earlier.

Any consequential loss whatsoever​ arising from the dishonesty of any employee. 

 

​Annual policy One-time shipment Open policy?

Primary Information:

·        The Insured’s Name         

·        Nature of business

·        Sum Insured

·        Number of employees and their role and responsibilities

·        Maximum value of money per each employee

·        Business operation hours

·        Claim/Loss History in the past 3 years

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