Fidelity Guarantee Insurance
Protect yourself from any fraudulent or dishonest behavior on the part of your staff. Fidelity Guarantee insurance protects you in the event that you lose money or other property that you own or are legally responsible for as a result of their acts.
- If an employee steals money from her employer, is there insurance that will answer for the loss of money?
- If an authorized collector employed by a company failed to remit a portion of his collection, will there be an insurance cover that will answer for this loss?
Protects commercial enterprises against loss of money, stocks, or other property belonging to the Insured and/or under its care, custody, and/or control as a result of an employee’s dishonesty or fraud.
What is covered?
Protects the commercial establishments for loss of money, belonging to the EMPLOYER resulting from an act of fraud committed by its employee, only if:
- Dishonesty of the erring employee was established by the Insured to the satisfaction of the Company.
- The whole loss occurs in the Philippines.
- The insured discovered the fraud during the period of insurance, or:
- Within 3 months from the date the policy was cancelled or expired.
- Within 3 months from the erring employee’s resignation or ceasing employment.
What is not covered?
This policy does not cover claim against:
- For loss information
- For fraud committed by an employee after:
- The date on which the Insured’s policy is cancelled; or The Insured has discovered already other fraud committed by same employee, whichever happened first
- Caused by or arising directly or indirectly from: war(whether war is declared or not); revolution or other civil disturbances or commotion;
- Any act attributable to TERRORISM