Fraud Control/Fidelity Guarantee Insurance

A fidelity guarantee insurance policy insures against any direct monetary loss to the insured business due to an act of 'duplicity' (meaning deception) or 'fraud' by an employee of the organisation while at work. Policies are taken by the employer either in the name of one specific individual, for example the company accountant, or as a collective policy for the entire staff.


Financial loss sustained by the Insured due to any act of fraud or dishonesty of the employee relating to his employment/occupation and his duties.

Premiums depend on the amount of money at stake, and the level of access the employee has to it, and the number of employees in the policy. Please contact us for a quote.


  • Consequential Loss is not covered
  • After the Death Dismissal Resignation or Retirement of the employee or within 12 months after expiry of the policy whichever shall first occur.
  • Any suppression misstatement of the facts affecting the risk at the time of taking up the policy
  • The Insurer shall not be liable to pay more than one claim in respect of the act of any one of the employee.

For the full list of exclusions, refer to policy wordings, or ask your Perilwise representative to explain things to you.

Claim Procedure/Documents Required

  • Intimate the policy issuing office immediately after the discovery of loss and submit completed Claim form for further processing.
  • First Information Report to the Police Authorities and their final report.
  • All books of account and reports to be open for inspection to the insurance Company.
  • Pursue the claim from the erring employee.
  • From the date of discovery of the act of infidelity the policy is terminated as far as the particular employee is concerned.
  • Immediately take all further steps to prevent loss.

There are also fidelity covers available for a select group that is based on designations, say, a policy to cover all managers, store keepers, accountants and cashiers.

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Chennai 600116.

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