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Under a Fidelity Guarantee policy the insured is covered against direct pecuniary loss (usually of money or goods) caused by any act of fraud or dishonesty of any employee named or described in the schedule and acting in the capacity mentioned in the schedule.
The maximum liability of the insurer in respect of any employee shall be the amount guaranteed against the employee concerned. The act of fraud or dishonesty must be discovered during the period of insurance or within 6 months after the employee ceases to be employed by the employer, whichever shall happen first.
The above explanations give a summary of the type of cover available. For full details, including the exclusions and conditions that apply, please contact us at any of our offices.