The purpose of this insurance is to indemnify the employer for losses of money, valuables, and merchandise suffered in the event of fraud committed by any of his employees.

Basic coverage

To indemnify the Insured for any loss of money and other tangible property which he may suffer as a result of any fraudulent act or acts committed by one or more of his employees for the purpose of obtaining profit, up to an amount not exceeding the amount stipulated in the Individual Conditions.

The insured sum is one lump sum and covers employees who are listed at the beginning of the policy, as well as those who enter after the issuance of the policy.

The rate charged for this policy is based on certain factors, such as

• Type of business
• Number of insured employees
• Insured sum