Fidelity Guarantee Insurance is a critical business cover that protects companies against financial losses caused by employee fraud, dishonesty, or theft.
What does it cover?
- Employee fraud & dishonesty – Losses due to theft, embezzlement, or fraudulent acts by employees
- Forgery & financial manipulation – Covers losses from forged documents or unauthorized transactions
- Stock & cash loss – Protection for money, inventory, or assets held in trust
- Internal theft assistance – Covers cases where outsiders are aided by employees (infidelity)
Key features
- Comprehensive internal risk cover – Specifically designed to protect against employee-related financial crimes
- Flexible coverage options – Insure all employees or selected staff categories with tailored limits
- Applicable across sectors – Suitable for commercial businesses and residential employers
- Extended loss discovery – Covers losses that may occur over time but are claimed once discovered
Policy conditions
- Fraud or dishonest acts must be committed in Kenya
- Must be committed by an employee during active employment
- Loss must occur within the policy period
- Claims must be discovered and reported within 6 months after:
- Employee resignation, dismissal, retirement, or death
- Policy termination or lapse
Who needs this cover
- Businesses handling cash, inventory, or high-value assets
- Companies with employees in finance, procurement, or stock management
- SMEs, corporates, retailers, and service providers
