Despite the best internal control measures in any corporate activity, mishaps like misappropriation and embezzlements by employees do take place. Fidelity insurance policy protects employers against such exposures.
Employers should consider the following points while opting for fidelity insurance:
Number of employees handling cash, valuables or stocks & bonds.
Limits of exposures.
Employees status and credibility.
The policy covers any loss caused due to any act(s) of forgery or embezzlement, larceny and /or fraudulent act committed by an employee in the Course of their duties.
The premiums are calculated on the basis of aggregate limit of indemnity in addition to per capita premium.
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