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Fidelity Insurance

Provide coverage from losses of cash’s manager fidelity

Home > Commercial Insurance > Fidelity Insurance

Fidelity Insurance

Provide coverage from losses arising from cash manager's fidelity.

Provide Lump Sum benefits for loss of cash due to dishonesty of employee.

In its simplest form the word “Fidelity” implies the faithful or loyal performances of a duty. Losses arising from the lack of Fidelity in the form of dishonesty of employee can be insured against.

Note – The insurer can pursue the employee to attempt recovery of the stolen money or goods.

Policy Term

The insurance policy period is for one year. Insured can renew the policy on the maturity of the policy.

Any businesses are eligible to apply for the coverage.

Premium Rating

• 1.0% on Sum Insured for private bank.

• 2.0% on Sum Insured for private enterprises

Premium Payment

Premium must be paid by lump sum.

Policy Term

This Insurance Policy period is for one year. Insured can renew the policy on the maturity of the policy.

1. What documents are needed to insure Fidelity?

Ans:  i. Proposal

ii. Name and NRC copy of the person who handles cash.

iii. Employee card

iv. The police certificate

v. Recommendation letter from the company

2. What does the Fidelity Insurance cover?

Ans: Fidelity Insurance covers losses of cash arising from the dishonesty of employee.

3. How long does the policy period cover?

Ans: The policy period is one year for fidelity insurance.

4. How much is the premium rate for one year?

Ans:   i. Private Banks 1.0 %

ii. Private Enterprises – 2.0 %

Provide Lump Sum benefits for loss of cash due to dishonesty of employee.

In its simplest form the word “Fidelity” implies the faithful or loyal performances of a duty. Losses arising from a lack of Fidelity in the form of dishonesty of employee can be insured against.

Policy Term

The insurance policy period is for one year.

Any businesses are eligible to apply for the coverage.

Premium Rating

• 1.0% on Sum Insured for private bank.

• 2.0% on Sum Insured for private owned enterprises and companies.

Premium Payment

Premium must be paid by lump sum.

Policy Term

One year. 

1. What documents are needed to insure Fidelity?

Ans:  i. Proposal

ii. Name and NRC copy of the person who handles cash.

iii. Employee card

iv. The police certificate

v. Recommendation letter from the company

2. What does the Fidelity Insurance cover?

Ans: Fidelity Insurance covers losses of cash arising from the dishonesty of employee.

3. How long does the policy period cover?

Ans: The policy period is one year for fidelity insurance.

4. How much is the premium rate for one year?

Ans:   i. Private Banks 1.0 %

ii. Private Enterprises – 2.0 %

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