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The policy covers direct pecuniary loss caused by an act of fraud or dishonesty committed by any salaried person employed by the insured.
Brief Description
The policy covers direct pecuniary loss caused by an act of fraud or dishonesty committed by any salaried person employed by the insured. This loss should have occurred in connection with the employee's duties, during the period of his employment and should be discovered within six months of his/her death, dismissal or retirement or six months after the policy ceases to exist, whichever is earlier. This policy can be extended to cover a number of employees, without specifying the names of the employees. Only the total guaranteed amount is stated and any loss up to that sum is covered whether resulting from default of one or more employees.
Covered Risks
The policy covers direct pecuniary loss caused by an act of fraud or dishonesty committed by any salaried person employed by the insured.
