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Sunday, June 25, 2017

Fidelity Guranatee

INTRODUCTION

  • The basis of the contract is the proposal form.
  • Premiums must be paid upfront before commencement of cover.
  • Premiums form the basis or the consideration for indemnity.

COVER: INFIDELITY OF EMPLOYEES

Any loss caused by any act or acts of forgery, embezzlement, larceny or fraudulent conversions of moneys and or stock in trade belonging to or held in trust by the insured committed by the employees in connection with their employment as specified in the schedule thereto (proposal form) during the period of the policy. Kenindia Assurance Company Ltd will make good the loss therein by indemnifying the insured the amount of such loss or the value of such stock in trade but not exceeding in the case of each of the employee, the amount set against his or her name in the schedule.

Such acts of fraud or dishonesty must be committed:

  • During the period of Insurance.
  • During the employee’s uninterrupted service in employment.
  • Must be discovered and notified to the Company not later than six months after the resignation, dismissal, retirement or death of the employee or termination and or lapse of the policy.

Due observance and fulfillment of the terms, provisions, conditions and endorsements of the policy should be complied with by the insured and the truth of the statements and answers in the proposal forms shall be conditions precedent to any liability for the Company to make good the loss suffered therein.

NOTE: Terms and conditions apply.
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