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?

Employees’ Dishonesty

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


Name & position of guaranteed employee

Limit of cover required per position

Internal control procedure

Employee screening system

Loss history

Insured’s Duties

Condition 2: Notices by Insured

All notices to be given by Insured to the Insurer shall be in writing format.

Condition 4: Precautions to be Taken By Insured

Insured shall take due precautions for the safety of the money, securities and payroll money as if the same were not insured especially as regards to selection and supervision of employees and shall not suffer or permit anything whereby the risk of the Insurer shall be increased.

Condition 5: Records

Insured shall keep viable records in such a manner that the Insurer can accurately determine therefrom the amount of loss.

Condition 11: Conditions precedent to Liability of the Company

Due observance and fulfillment of terms, provisions, exceptions and conditions in so far as it relates to anything to be done or not to be done by the Insured; truth of statements and answers in proposals shall be conditions precedent to any liability.

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