Fidelity insurance protects companies and organisations from losses incurred as a result of fraudulent acts by specified individuals. This product type usually covers costs that arise as a result of dishonest acts of an employee(s). These policies are designed to protect monies, securities and other property from employees who intend to cause the company substantial loss.

Fidelity insurance should be considered when one or more employees are entrusted with handling cash or other valuable assets. This policy can be taken out to cover the dishonest acts of all employees in general or can be taken out to cover specific employees i.e. those that are permitted to handle cash and other assets.The dishonest or fraudulent acts of employees can differ from company to company but may include one or more of the following:

  • Theft of cash or other assets
  • Diverting cheques
  • Overstated billings
  • Misuse of company assets
  • Fabricating invoices
  • Forgery of cheques or other financial instruments
  • Credit card fraud

Companies can carry out certain checks on potential employees and have stringent recruitment processes in place, however, employee dishonesty will never be eradicated. Having the appropriate Fidelity insurance in place will reduce this risk dramatically.

    IMPORTANT: Please complete this application as fully as possible and return it to Consort Insurance, together with any relevant plans, Schedules of Condition or other supporting documents.

    JCT clause 21.2.1 (or equivalent) insurance

    Section 1 - General details

    :
    £
    £

    Section 2 - Existing property

    If the existing property is being completely demolished or the contract site has already been cleared, please proceed to SECTION 3. Otherwise, please answer the questions below:

    YesNo
    YesNo

    Section 3 - Surrounding property

    Please give a description of all surrounding property not forming part of the Contract Works:

    YesNo
    If Yes, please forward a copy of this to
    dahlia.osuoha@consortinsurance.com
    YesNo

    Section 4 - Construction and extensions

    Please complete DEMOLITION Section if applicable (where such demolition forms part of a contract for erection, reconstruction, alteration or repair by the insured):

    Demolition

    YesNo
    YesNo
    YesNo
    YesNo
    YesNo
    YesNo
    YesNo

    Section 5 - Declaration

    The undersigned declares on behalf of all parties proposing for insurance that to the best of his/her knowledge and belief, the statements provided herein are true and complete and all material facts or circumstances have been fully disclosed. The undersigned declares and agrees that the proposal form together with any other information supplied shall form the basis of any subsequent contract of insurance and undertakes to inform the insurer of any material alteration to those facts occurring before completion of the contract of insurance.