Fidelity Guarantee Insurance compensates employers against financial loss on account of forgery, defalcation, embezzlement and fraudulent conversion by employees. The purpose is to provide protection in respect of the default of an individual acting in some capacity such as Cashier, Accountant, and Store-keeper, etc. The cover shall be provided in respect of a single employee or a number of employees.

Coverage:

• Financial loss on account of forgery, defalcation, embezzlement and fraudulent conversion by employees
   

Exclusion:

• Arising anywhere outside Bhutan
• More than one claim in respect of any one employee
• Change of circumstances without the consent of the insurer (BIL)
• Embezzlement/forgery/fraudulent related to any types of loans