Commercial Insurance

Key benefits - covers financial lost due to employee fraud/ dishonesty


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.

  • 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.

Main 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.

For further details and quotation, talk to us today at 1800-103-2292 (Toll free) or visit one of branches

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