In any office and organization, staff have been given various responsibilities including cash handling and cash carrying. To mitigate the loss caused due to dishonesty or fraud committed by its employees, the company, office or organization takes this insurance. It does not guarantee the employees' honesty but it guarantees that if the employer suffers any direct financial loss arising out of the employee's dishonesty, the insurer's share indemnifies the said loss to the employer within the limitations prescribed by the contract.
The employees for which Fidelity Guarantee Insurance is needed should be the permanent staff and should be the citizen of Nepal. Names of the employees should be submitted along with the proposal form.
Shikhar Insurance Company Ltd. started this policy on 17th November 2004.
Issued Date: 2004-11-17