Fidelity Guarantee Insurance Policy

will indemnify employers against direct loss of money or other property resulting from acts of fraud or dishonesty committed by their employees. 

However, there are exceptions: - 
The Policy does not cover: - 
(a)...

Losses discovered more than 6 months or more after the expiry of the Policy or the termination of the service of the employee concerned, 
(b) Defaults of an employee occurring after previous acts of dishonesty by the same employee have been discovered or suspected, 
(c) Losses occurring after there has been a change in the system of Supervision and check exercised over the employees and their accounts which has not received the Company's prior approval, 
(d) Cash or stock shortages not caused by fraud or dishonesty or trading losses, which cannot be accounted for. 

Basis of insurance 
Named Employees identified by name can be guaranteed for a specified amount each or a single sum Employees covering two or more employees. 
Unnamed Employees may be identified in groups according to their category of employment. 

Employees You may include all of your employees with a single overall limit of guarantee (referred to in the proposal as the 'blanket' basis) or you can guarantee employees in specified categories only with a separate amount of guarantee applying to each category (the 'positions' basis. 

ALL of the employees in a defined category are to be covered and the employer is required to provide an estimate of the MAXIMUM number of employees in each category that he expects to be working at any one time during the period of insurance. 

At renewal the employer must provider details of the actual MAXIMUM number of employees in each category during the previous period of insurance. 
Premiums Premiums vary according to the nature of the business, the nature of the employee's duties and the amount of the guarantee. A quotation will be given on receipt of a completed form.

References The Policy is issued usually on the basis that the employer takes up references before engaging new staff. In certain circumstances the Company may perform this service for a fee. 

Fidelity Guarantee Insurance Policy

In every business the most important asset is the employees without which the company cannot function. These employees are selected through an interview process that lasts for a short while and so it is not possible for the employer to know the person very well. People look for jobs in order to make money and sometimes these people could go to the extent of embezzlement, robbery or even fraud to get that money.

ACPG General Insurance is aware of this issue and so has come up with the Fidelity Guarantee insurance policy to protect the business from such atrocities. By purchasing the Fidelity Guarantee insurance of ACPG General Insurance the client places his business under their protection so that all the damages caused due to dishonest means of the employees are borne by them.

The Fidelity Guarantee insurance policy of ACPG General Insurance pays the actual loss due to the employees’ infidelity to a specified limit and does not pay more than one claim per employee. There are a number of policies for the client to choose from. Depending on his requirement he can opt for an individual policy which covers only an individual or a collective policy that will cover his entire staff. There are also floater and position policies according to the requirement.

ACPG General Insurance does not bear the expenses of losses incurred due to the infidelity of one employee for the second time nor does it pay if facts are not clearly stated. The document should be carefully read before signing.

MONEY INSURANCE