Employee dishonesty is one of risks faced by organizations where large-scale transactions involving currency and other related instruments are carried on. Despite the best efforts at book keeping, accounting accompanied by best surveillance, with checks and balances in place to avoid dishonest acts by employees, an employee could still commit frauds.
This policy provides coverage to dishonest acts committed by employees in course of their employment resulting in pecuniary losses to the organization. |
| Indemnify the insured against any direct pecuniary loss sustained by any reason of any act of fraud/ dishonesty committed by any employee on or after the date of commencement of this policy and during uninterrupted service with the Insured and discovered during the continuance of this policy or within twelve calendar months of the expiration thereof and in the case of death, dismissal or retirement of the employee within twelve calendar months of such death, dismissal or retirement whichever of these events shall first happen. |
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The company shall not be liable in respect of losses arising elsewhere than in the
territorial limits stated in the schedule.
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The company shall not be liable for losses not sustained within a retroactive period not exceeding two years from the date of discovery of any such loss(es).
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Company will not be liable to pay any claim in respect of loss sustained prior to the inception of the original policy.
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(DOC
159 KB) |
Overview
motor insurance