Fidelity Guarantee

Overview

Companies are exposed to significant financial losses due to crimes committed by employees. Indeed, employees remain the highest risk factor contributing to financial losses. The growth in the use of electronic data and asset transfers, internet connectivity and virtual workspaces only serves to increase fidelity losses faced by employers, with the added challenge of detecting and tracking of perpetrators. As a result, Metropolitan Cannon Insurance has designed a risk management tool called the Fidelity Guarantee policy. This policy covers the gap that exists for incidences of theft by staff/ employees which is not extended under the normal property policies which indemnifies against thefts caused by external actors.

This cover insures against thefts by employees and is available on accommodation basis, which means that one must have another insurance portfolio with Metropolitan Cannon. The Fidelity Guarantee policy therefore offers protection against loss of money or goods from business premises through dishonest or fraudulent acts by employees.

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Scope

Your organization is insured against the following risks perpetrated by employees:

  • Dishonesty
  • Fraud
  • Loss of property, stock, stores etc
  • Loss from loans or trading
  • Theft of property by computer fraud and theft of funds from the insured’s transfer account at a financial institution ??????
  • Defense costs, judgments and settlements can be accommodated at an additional premium according to terms of the contract.

Benefits

Assured reimbursement for losses resulting from the risks below:

  • Dishonesty
  • Fraud
  • Loss of property
  • Loss from loans or trading
  • Theft of property by computer fraud and theft of funds from the insured’s transfer account at a financial institution
  • Defence costs, judgments and settlements

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