Things you must know about Fidelity Guarantee Insurance


1.  Who needs Fidelity Guarantee Insurance?

Almost every company runs the risk of their staff or directors stealing goods or  money.  Even if physical security is high, it is often impossible to be completely protected against “white collar fraud” or account embezzling.

2.  Why should you take out Fidelity Guarantee Insurance?

As companies grow, an ever increasing amount of trust & responsibility naturally has to be deployed to senior staff. It would be impossible to double check each & every transaction, or to be the sole holder of alarm codes, keys & so forth. Whilst we all want our businesses to prosper & to empower promising staff with increased levels of responsibilty, it is sadly often (generalizing) the staff we trust most that have alternative motives.


Whilst some staff or ex-staff co-ordinate these crimes out of spite, revenge or malice, we have also seen far too many claims where huge losses were executed by the most trusted senior members faced with a personal crisis. The negative effect on morale caused by realising that one of your colleaugues intentionally caused a loss to the company is devastating. This doesn’t have to be further compounded with financial burdens if these losses are insured against.

3.  How much does Fidelity Guarantee Insurance cost?

We have a large book of clients with many different insurance companies, so we will be able to find the most beneficial policy with the cheapest premiums for your business.

4.  Typical claims incurred on Fidelity Guarantee Insurance policies

The most common claims on this policy tend to be staff who simply disappear with company items such as cell phones, demo equipment, outstanding loans etc. This often causes little more than an annoyance to the company.

Particularly devastating claims are when staff arrange or tip off “inside jobs”.  These can be burglaries, mock hijackings or hold ups of known staff who carry cash.

The largest claims tend to be caused by accounts personnel who can often pay ghost employees or creditors, or skim from the accounting system for years before the discrepancy is realized.

5.  What other insurance should be considered along with Fidelity Guarantee Insurance?

In many burglaries, hijackings and hold ups, it is often difficult to establish whether it was indeed an inside job, tip off, or simply a coincidence.  We therefore recommend that Theft cover still be in force.