Fidelity insurance can protect your business against fraud, theft or dishonesty by volunteers or employees.
Fidelity insurance is a type of insurance that provides protection for an individual or organisation against losses incurred as a result of fraudulent or dishonest acts by employees. It is designed to protect a business from financial losses caused by the dishonest actions of its employees or volunteers.
Buying fidelity insurance is a good idea because it provides protection against financial losses due to employee theft or fraud, which can be a significant risk for many businesses. It can also provide peace of mind, knowing that your business is protected against such losses.
Common examples include fabricating invoices, false expense claims, petty cash theft and stealing collection tins. These often occur in small amounts initially and build up over time, resulting in a significant hole in your organisation’s finances.
Fidelity insurance can pay for losses you incur as a result of:
- Loss of money or goods arising from the dishonest or fraudulent acts of your employees
- Loss of property or funds through computer fraud or fraudulent transfer instructions (other than employees)