Fidelity Insurance

No. This policy is strictly for intentional dishonesty. Accidental mistakes or professional negligence are covered under Professional Indemnity or Errors & Omissions insurance.

You can opt for Blanket Cover (protects against acts by all employees), Position Cover (specific roles like “Accountant”), or Named Cover (specific individuals by name).

Most policies include a “discovery period.” As long as the fraud is uncovered within a set timeframe (usually 6–12 months) of the incident, you are eligible to file a claim.

Standard policies focus on direct employees. However, coverage can often be extended to include temporary staff or contractors if specified at the time of purchase.

While a police report is usually required, a conviction is not always a prerequisite for a claim. You must, however, provide clear evidence of the dishonest act.

Standard Fidelity Guarantee focuses on tangible assets (money and goods). Cyber insurance or specialized IP insurance is usually needed for data-related losses.

The insurance payout will typically cover the “net loss.” Any amount recovered from the employee is deducted from the final claim amount.