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Fidelity Guarantee Claims

Scope of Cover
• A fidelity guarantee policy provides cover to the employer against the risk of loss through fraud or dishonesty of    employees
• Issued in situations where employees handle their employers money or other property -cashiers, collectors,    treasurers or sales executives, accountants, book keepers, computer operators and procurement officers

Determining limits of indemnity:
• Maximum cash/stock holding any one time by staff
• Nature of stock/ business
• Internal Security/Controls –Maximum probable loss
• Past Experience on similar losses

Underwriting considerations
• Location of insured’s premises
• Type of business/nature of stocks
• Internal security/control measures
• Past claims experience
• Headcount
• Retentions if any, by the client
• Limits of indemnity required by the client

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