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Fidelity Guarantee

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Theft by employees is not covered under money policy or burglary policy. Theft by employees is covered under a special policy. It requires special considerations.

Fidelity guarantee is the policy which provides cover for this type of loss. Most insurers would like references to be taken for all employees to be covered. They would also like to know the system of checks and procedures in place to avoid theft and if it occurs, the discovery period.

The policy should cover all people involved in handling cash and/or stock. These will include drivers, salesmen, cashiers, store keepers, stock brokers and senior management.

When a claim occurs insurers will require proof of loss and therefore, proper record documents must be produced.