All Insurances covering loss by theft or burglary of property or cash exclude loss in which any of your employees is involved as principal or accessory. We recommend that you take out this Insurance to cover the infidelity of your staff that is in key positions with valuable items and large sums of money entrusted to their care.

The sums insured for each person would represent the total amount you think such a person can be responsible for at any given time or the maximum amount or value of goods which you feel any such individual can easily embezzle.

Defalcation by staff, even trusted ones has been known to occur and we therefore think you should avail yourselves of this protection.

Remarks:  Character Reference Clause: Kindly ensure that all employees to be insured under this policy have, at least, two satisfactory character references at the time of being employed. Whoever is to handle goods or money should be someone whose previous employers can vouch for. This is in compliance with the policy condition which stipulates that a minimum of two certified character references should be obtained prior to confirmation of the employee.

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