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ABC Net Directory  - Article Details

Fidelity Insurance - Providing Protection For Your Business

Date Added: July 13, 2014 04:01:53 AM
Category: Home and Family: Home Buyers
The need for fidelity insurance arises when an employee of the company or a group consisting of employees deceives the company or its clients or misappropriates funds. Such a course of action can suddenly put your business in dangerous situation. It may not be discovered until the act has been done and the company has already lost a huge amount of money. A fidelity insurance guarantee should be taken to prevent huge losses to your business when there is a fraudulent activity by an employee of the company. Such a policy bears for the financial losses incurred upon your company. This policy insurances economic losses that you might have to face as a consequence of an act of deceit, misuse, stealing or a fraud or fraudulent exchange of money or money's value or properties of the company by your paid employees. It pays for the definite monetary loss adjusting the salary, security deposit, commission any other amount which is due to the credit of the deceitful employee. The payment of the loss is possible to an upper limit that was stated against that employee. If an employee is handling transaction of money or goods which is recorded you can avail this kind of fidelity insurance. The fidelity insurance guarantee is excluded under certain circumstances like: there is suppression of information which might have affected the act, there are multiple claims for the act of one employee, modifications in the circumstances of the particular employment without the permission of the company, loss that has occurred outside India, loss that has arisen due to relaxed precautionary measures or security checks, loss that has resulted from an act of fraud which was performed earlier, loss which has been realized after twelve months jejak paranormal ki prana lewu menangkap tuyul post the expiry of the fidelity insurance guarantee or the service period of the employee or losses of stocks of trading losses or shortages that are not the result of act of fraudulence of an employee. A fidelity insurance guarantee protects your business in case an employee causes financial losses to the company by a treacherous act. Such acts are common in all scales of business and therefore should be safeguarded against. Fidelity insurance requires of assessment of an employee's income and assigns an amount of loss that can be caused by him. This amount is paid by the fidelity insurance when there is a case of fraud by a particular employee.