Fidelity Guarantee Insurance provides coverage against any direct financial loss sustained by the employer through acts of fraud, dishonesty, forgery or theft committed by his employees in connection with their occupation and duties.
This insurance is targeted to cover loss of monies or real properties and merchandise of the employer through dishonest acts of its own employees such as cashiers, finance or sales personnel and other such employees.
Cover can be arranged on all or selected employees on the following basis:
- Named basis with specific guarantee amount for each employee.
- Named basis which guarantee amount floating for all employees.
- Unnamed basis with guarantee amount floating for all employees in the employment of the insured.