Fidelity Guarantee Insurance

Fidelity Guarantee Insurance

Protect yourself and your business from employee frauds.

This policy provides you with coverage against direct pecuniary loss usually of money or goods caused by act of fraud or dishonesty of employee described in the policy. It covers well established organisations, i.e. organisations or firms with proper accounting procedures, full annual audit and effective systems of check and supervision.

What benefits do I get?

Indemnifies employers against loss of monies, negotiable instruments or goods belonging to the employer or for which they are responsible as a result of the dishonesty of their employees.

The acts of fraud or dishonesty must be committed:

  • during the period of insurance
  • during the uninterrupted continuance of employment of the said employee
  • in connection with the occupation and duties of the said employee

The acts of fraud or dishonesty must be discovered during either:

  • period of insurance or
  • not later than 3 months after termination of the policy or
  • not later than 6 months after termination of employment of such employee

whichever event shall first happen.

What is the scope of cover?

Named Basis

Named Basis
Covers individual persons named in the policy for a specific amount.

Position Basis

Position Basis
Covers named positions eg cashiers, company secretary, accountant, storekeeper, etc without names of employees being indicated. This avoids the necessity to amend the policy following staff changes. The sum insured is a specific amount corresponding to the position and subject to an aggregate limit per period of insurance.


Covers all employees irrespective of positions held and an indemnity up to a stated amount in respect of acts of one or more employee. The sum insured is fixed for anyone loss and in the aggregate anyone period of insurance.

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