Employee Infidelity Insurance
The term "employee infidelity insurance" is generally synonymous with Fidelity Guarantee Insurance or Employee Dishonesty Insurance. It is a crucial t...
Employee Infidelity Insurance
The term "employee infidelity insurance" is generally synonymous with Fidelity Guarantee Insurance or Employee Dishonesty Insurance. It is a crucial type of commercial insurance that protects a business against direct financial loss resulting from fraudulent, dishonest, or criminal acts committed by its own employees.
The coverage is focused on the recovery of assets and funds that are stolen, misappropriated, or lost due to a breach of trust by an internal party.
Core Areas of Coverage
Theft of Money and Securities
Coverage includes cash, cheques, unauthorized electronic fund transfers, and other financial instruments stolen by employees.
Forgery or Alteration
Protection against forgery or alteration of financial documents, cheques, or other instruments by employees.
Misappropriation of Property
Coverage for embezzlement and misappropriation of company property or inventory by employees during their employment period.
Important Coverage Conditions
Employment Period: The fraudulent act must have occurred during the period of employment.
Discovery Timeframe: The loss must be discovered within the policy's specified discovery timeframe.