Even when a company's employees betray, it'll still save the day.

There can be occasions in a company’s history when an employee or a group of employees dupes the company or its customers or embezzles funds. Such an act can catch a business entirely unawares and by surprise. Nonetheless, the financial loss can be substantial. To protect your enterprise against such a loss, take the Bharti AXA Fidelity Guarantee Insurance Policy.  

A smart first step

Bharti AXA's Fidelity Guarantee Insurance Policy is simple and comprehensive. This policy protects your business from financial losses in the event of a breach of trust by an employee.
This policy covers monetary loss that you might have to suffer as a result of forgery, embezzlement, larceny or fraud / dishonesty or fraudulent conversion of money or money's worth or goods by your salaried employees.

Smart policy benefits

The policy pays the actual financial loss sustained as a result of the dishonesty / fraudulent act of the employee after adjusting any salary, commission, security deposit or any other money standing to his/her credit. The loss is payable up to the limit specified for the employee.
You can take this policy if you have employees handling any goods and/or money with a system of keeping records of all transactions.

Exclusions

Some of the major exclusions under the policy are:

• Loss arising out of suppression of fact, affecting the risk at the time of effecting the policy
• Change in the circumstances or conditions of the said employment, without the consent of the company
• More than one claim in respect of any one employee
• Loss arising outside India
• Loss due to non-observance or relaxation of system of checks and precautions
• Loss by an act committed subsequent to an earlier act of dishonesty / fraud that had come to your notice
• Loss discovered more than 12 months after the termination, either of the guarantee or of the service of employee concerned
• Losses such as stock taking shortages,trading losses, are not caused by fraud or dishonesty

This is not an exhaustive list.