Crime Insurance Vs Fidelity Guarantee Insurance!
Generally, the risk of dishonesty of employees is covered under Fidelity Guarantee Insurance but in the computer era the Net -Banking is opted for the banking operations by almost all the Corporate, where senior employees are authorised to make such transactions. The fraud in net banking transaction cannot be ruled out and the same can be covered under the Policy namely “CRIME INSURANCE” is available where the CYBER CRIME as an extension is also covered. But it does not cover the loss in inventory due to dishonesty of employees. The excess is also very high.