Fidelity Guarantee

This policy provides cover for employers against financial loss as a result of fraud, stealing, misappropriation, embezzlement or the dishonesty of employees who hold positions of trust like handling cash and stock.


The policy pays for the financial loss arising out of dishonesty/fraudulent act of the employee.

The maximum loss payable is limited to the specified limit for that employee.

The employer has the option to choose any of the following four alternatives:

(a) Individual Policy

Only one individual is guaranteed under this policy.

(b) Collective Policy

Under this option, entire staff or number of selected people are covered. The policy is issued showing the names of the employees covered along with their limits.

(c)  Floating policy or Floater

This is an extension of collective policy where sum insured is specified for the whole group rather than for each individual. The names of the group members along with their designation is attached as schedule to the policy. Each claim reduces the sum insured and has to be reinstated by paying extra premium.

(d)  Position Policy

The policy schedule contains “Positions” rather than the names of individuals, with the sum insured specified for each position. The liability is limited to the amount of sum insured specified against position irrespective of number of people working in that position.

The policy does not pay more than one claim in respect of liability/loss arising out of an individual employee’s act.

Main Benefit

The policy pays for the financial loss arising out of dishonesty/fraudulent act of employees covered under the policy.


The policy does not cover any loss:

  • Arising out of suppression of fact affecting the risk at the time of effecting the policy
  • Where there is any change in the circumstances or conditions of the said employment and the same is not communicated to the insurer
  • For more than one claim in respect of any one employee
  • Arising from non-observance or relaxation of checks and precautions
  • Committed subsequent to an earlier act of dishonesty/fraud and which had come to the notice of the insured/insured’s representatives/supervisor

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Guinea Insurance has always lived up to its name; consistently one step ahead of the industry in the provision of better and affordable risk management solutions. We are a major player in the provision of first-rate financial risk solutions in the General and Special Risks business underwriting categories. We have established a reputation for exceptional competence in the delivery of customer-centric services and product innovation. With a strong capital base, highly qualified professionals, and modern technology, Guinea Insurance PLC became widely acknowledged for speed and efficiency and thus, remained the preferred insurer for individual and corporate clientele seeking premium insurance and related financial services to date.


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