GA Fidelity Guarantee policy insures you against loss of money, securities or goods belonging to the business resulting from an act of fraud committed by an employee, if:
It is an employee who has committed the fraud.
The whole of the loss occurred in Kenya.
The fraud is discovered during the period of insurance;
The employee has been successfully prosecuted for the fraud or the evidence provided by you satisfies us that the employee committed the fraud.
The policy can be taken for all the employees or a select category of employees with limits prescribed for each category.
Losses occasioned by fraudulent acts by own staff are insured under this policy. Losses include theft of stocks and equipment and frauds of cash or books thefts. The losses may be perpetrated over a long period of time but taken up when discovered and reported to the insurance company. Acts of fraud are a specific exclusion under most other policies.