Fidelity Guarantee Insurance
The policy protects the employer from forgery or fraud of employees
The policy protects the employer from forgery or fraud of employees
To pay more than one claim in respect of acts of any one of the Employees.
In the Retroactive period of Cover
For losses not discovered within the Period of Insurance
In the event of non renewal or cancellation of this Policy, for losses not discovered within twelve months next following the date of expiry or the date of cancellation as the case may be (provided only that if there be any other insurance in force during the said twelve months whether effected by YOU or on YOUR behalf or otherwise, this Policy shall not cover or contribute to any loss covered by such other insurance). The reinstatement provision will not apply to such losses discovered within twelve months from the date of non-renewal or cancellation.
For losses not sustained within a retroactive period, not exceeding two years from the date of discovery of any such loss or losses.
Provided that in such a retroactive period, the insurance was continuously in force but in no event, WE shall be liable to pay any claim in respect of loss sustained prior to the inception of the original Policy.
Further, it is also provided that losses which become payable under this clause shall be subject to the terms, conditions, the exception of the Policy in force on the date of discovery or in case of nonrenewal/ cancellation, on the last date when such policy was in force.
Renewal Notice WE shall not be bound to accept any renewal premium or give notice that such renewal is due. Every Renewal premium which shall be paid and accepted in respect of this Policy shall be so paid and accepted upon the distinct understanding that no alteration has taken place in the facts contained in the proposal herein before mentioned and that nothing is known to YOU that may result to enhance OUR risk under the guarantee hereby given.
Adjustment of Premium If any part of premium or renewal premium is based on estimates furnished by YOU, YOU shall keep an accurate record containing all relevant particulars and shall allow US to inspect such record. YOU shall within one month after expiry of each period of insurance furnish such information as WE may require. Premium or renewal premium shall there upon be adjusted and the difference will be paid or allowed to US.
WE may cancel this policy by sending 7 days notice in writing by Regd.A.D. to YOU at YOUR last known address. YOU will then be entitled to a pro-rata refund of premium for the unexpired period of this policy from the date of cancellation, which WE are liable to repay on demand. YOU may cancel this Policy by sending written Notice to US. WE will then allow a refund after the premium based on the following retaining table.
Claim Procedure and Requirements:
Claim Control and subrogation:
WE are entitled to receive all information, proof of loss and assistance from YOU and any other person seeking benefit under the Policy -