This provides protection to business owners against loss of money or stock that may arise as a result of infidelity by employees. This could include Forgery, Embezzlement, Larceny, and/or Fraudulent Conversion of money.
What is Fidelity Insurance?
The cover can be arranged to cover.
- Specific named individuals
- People in specific positions
- A Blanket cover for named departments or divisions
This is the period during which the insured may discover, and report claim loss it incurred during the policy period. This policy will provide a discovery period of 12 months.
This policy covers loss by staff, the staff handling stock or money have to be declared.
- A commission agent, consignee, contractor or other agent or representative of the Insured.
- A director, trustee, partner
This policy has an Excess(This is the first amount that is payable by the insured in the event of any loss. The applicable excess will be 10% EEL minimum Kshs 50,000/=