Fidelity Guarantee

Fidelity Guarantee policy covers loss arising out of fraud or dishonesty by the company’s employees. This is a very important cover as any theft involving an employee is excluded under the burglary policy or even Money policy. Theft by outsiders aided by an employee is regarded as infidelity by the employees and falls under this policy. This policy is applicable to both commercial as well as residential locations.

The policy covers loss caused by any act or acts of forgery, embezzlement, larceny or fraudulent conversions of moneys and or stock in trade belonging to or held in trust by the insured committed by the employees in connection with their employment.

Such acts of fraud or dishonesty must be committed:

• In Kenya
• By an employee during the employee’s uninterrupted service in employment.
• During the period of Insurance.
• Must be discovered and notified to the Company not later than six months after the resignation, dismissal, retirement or death of the employee or termination and or lapse of the policy.

The policy can be taken for all the employees or a select category of employees with limits prescribed for each category.

The losses may be perpetrated over a long period of time but taken up when discovered and reported to the insurance company.