Fidelity Guarantee Insurance (Employee Dishonesty Insurance)

What is Fidelity Guarantee Insurance (Employee Dishonesty Insurance)?

Fidelity Insurance covers businesses for financial losses caused by employee theft or fraud. It is a crucial protection for trust-based operations like finance, retail, or logistics.

What can it cover?

• The policy covers direct financial losses suffered by an employer due to dishonest or fraudulent acts committed by employees during the course of their employment. This includes theft of cash, stock, or securities, embezzlement, forgery, and fraudulent fund transfers. Coverage can be structured on a named employee basis, position basis, or blanket basis across the organization. Claims are usually triggered upon discovery of the act within the policy or discovery period.

Who should consider it?

• Banks, NBFCs, FinTechs, Retail chains, jewellery and gold traders, Logistics firms, warehousing companies, Companies handling sensitive data or high-value goods

Key features to understand

• {"heading": "Key Features", "bullets": ["Covers named or blanket employees", "Protection against theft of money, goods, securities", "Can include electronic fraud and fund transfer manipulation", "Ideal for businesses with cash handling or sensitive roles", "Optional extension for social engineering fraud (with crime cover)"]}

What deserves attention before you buy?

Coverage, exclusions, sub-limits, deductibles, waiting periods, warranties and underwriting can vary between insurers and policy versions. The policy wording and schedule remain the definitive contract. Novo can help you review the relevant terms for your requirement.

Frequently asked questions