Fidelity Guarantee Insurance

What is Fidelity Guarantee Insurance?

Goldstar’s Fidelity Guarantee Insurance protects the insured against losses caused by disloyal staff/employees holding positions of trust.

Why do you need Fidelity Guarantee Insurance?

Dishonesty of employees can be difficult to detect. That’s where Goldstar are here to help and provide protection in the case an employee or group of employees act dishonestly to defraud a company of monies and/or goods.

What does Fidelity Guarantee Insurance cover?

The Policy covers the loss sustained by the employer by reason of any act of forgery and/or fraud and/or dishonesty of monies and/or goods of the employer on the part of the employee Insured, committed on or after the date of commencement of the Policy during uninterrupted service with the employer.

The loss should be detected during the continuance of the Policy or within 12 calendar months of the expiry of the Policy and in the case of death, dismissal or retirement of the employee within 12 calendar months of such death or dismissal or retirement whichever is earlier.

The cover may be required in respect of a single employee or a group of employees. There are three types of Policies normally issued by the Insurer for this clause of business namely “Individual Policy”, “Collective Policy” and “The Blanket Policy”.

  • The blanket policy:- covers all guaranteed employees
  • Collective policy:- covers named and unnamed individuals
  • Individual policy:- Covers one person and responds to theft or fraud by the person within the policy period and terms of employment.


Goldstar provides additional benefits and extensions as part of our commitment to ensure you are offered the most tailored cover for your business needs, including:

  • Automatic reinstatement of Sum Insured
  • Accountants’ Clause
  • Claims preparation costs.
  • Costs of Recovery
  • Goods in care, control or custody of Insured.
  • Discovery period – within 12 months after termination/lapse of policy
  • Discovery period – within 12 months after termination of employment of the suspect employee
  • Automatic additions and deletions of employees
  • Policy on Blanket Basis – in respect of all employees of Insured
  • Computer Fraud ( subject to 20% excess)
  • Collusion Clause – subject to aggregate limit any one period of Insurance).
  • Unidentifiable Employee – on prove fraud or dishonesty by employees, but cannot identify specific individuals and the onus is on Insured to prove fraud or dishonest of employee and resultant loss.
  • Recoveries - if Insured incurs any liability which exceeds the limit of Indemnity payable hereunder, the Insured shall be entitled to all recoveries