Fidelity Guarantee Insurance Cover
This policy helps employers to protect their organizations against any losses that may be incurred as a result of fraud by employees. This Policy itself can be taken on one of the several different forms. The first form is to issue cover under a 'named person basis', whereby all the persons named a re required to furnish particulars about their duties, previous employers and references among other things.The second form is to issue cover under what is known as the 'positions basis' in which case specific positions in an organization such as Chief Executive Officer, Finance Director, or Company Secretary as the Management will deem fit. In this case, the organization is covered irrespective of staff turnover. Given the higher level of risk, the premiums in the second form will invariably be higher.