Pecuniary Insurance
Fidelity Guarantee
This policy ensures compensation for financial loss as a result of fraudulent activities of the employee.
Fidelity Guarantee Insurance provides coverage against any direct financial loss sustained by the employer through acts of fraud, dishonesty, forgery or theft, committed by employees in connection with their occupation and duties.
PLEASE NOTE THAT THIS POLICY DOES NOT COVER ANY OF THE FOLLOWING:
Loss of money or property not belonging to the insured Funds deposited with the insured by the general public for investment purposes.
Any party that is not specifically named on the policy.
Consequential Loss
Consequential loss coverage reimburses the insured for business costs due to damaged facilities or equipment.
Consequential loss insurance policy diminishes indirect risks that arise from a situation and are typically offered in combination with regular business or property insurance. Consequential loss is considered an indirect loss, as opposed to a loss from a natural disaster or accident.
Benefits of Consequential Loss Insurance
There are several benefits to having a consequential loss insurance policy. Normal insurance policies generally cover the cost of repairing or replacing damaged property, but consequential loss insurance will cover additional financial losses that your business may incur as a result of such damages. Consequential loss insurance is a solution to cover your profits and business interruptions. It can be purchased in conjunction with a standard business policy at a much smaller cost than the effects your business could endure.