Fidelity/Employee Dishonesty insurance

What is Fidelity / Employee dishonesty insurance?

Fidelity Insurance is designed to protect businesses from dishonesty and theft by employees, which would not normally be covered by most other insurance policies. It is a type of business insurance that protects a company if an employee steals money, stock, equipment, or other property from the business.

It can cover losses caused by employees through acts such as:

• Theft of cash from tills or bank accounts
• Fraudulent transfers of company funds
• Forging cheques or payment instructions
• Theft of stock, materials, or equipment
• Embezzlement and other forms of financial fraud

Example

If an employee responsible for company accounts secretly transfers £50,000 from the business bank account into their own account, employee dishonesty insurance may reimburse the business for the loss (subject to the policy terms, limits, and any excess).