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The policy covers the employer in respect of any loss of money and/or property or financial loss which s/he may incur as a result of direct or indirect pecuniary loss as a result of an employee’s impropriety, dishonesty or infidelity.

The insurance company agrees to indemnify the insured against direct pecuniary loss sustained by reason of any act of fraud/dishonesty committed:
During uninterrupted service with the Insured and discovered during the continuance of this policy or within twelve calendar months of the expiration thereof
In the case of death, dismissal or retirement of the Employee within twelve calendar months of such death, dismissal or retirement whichever of these events shall first happen.

CONDITIONS
The liability of the insurance company shall not exceed:
In respect of any employee the sum insured stated against his name or as declared herein.
In respect of all claims under this policy, the total sum insured.
If this policy shall be continued for more than one period of indemnity or if any liability shall exist on the part of the insurance company under this Policy and also under any other Policy in respect of fraud or dishonesty of the employee, the liability of the insurance company hereunder shall not be accumulated or increased thereby but the aggregate liability of the insurance company during any number of periods of indemnity and for any number of acts of fraud or dishonesty committed by the employee shall not exceed the sum insured hereunder or the sum insured under any other such policy as aforesaid whichever is greater.
The insurance company shall not be liable to pay more than one claim in respect of the action of any one employee.

EXCLUSIONS
The insurance company shall not be liable for:
Loss or damage resulting from or contributed by any defined event by
Any partner in or of the insured to the extent that such a partner would benefit by indemnity granted under this policy
Any director or member of the insured unless such director or member is also an employee
Any employee from the time the insured shall become aware that such employee has committed any fraud or dishonesty.
Any consequential losses of any kind following losses referred to under defined events

This policy does not cover any company or other legal entity acquired during the period of insurance

The company shall not be liable for any defined event it results from the dishonest
manipulation of
input into
suppression of input into
destruction of
alteration of

Any computer program, system, data or software by any inured employee who is in the insured’s Electronic Data Processing Department of Area.

The company shall only be liable to the extent of the participation/shareholding of any uninvolved partners/directors or members for an insured event in which any partner/director or member of the insured is or has been directly involved.

Note: Policy details given are indicative, not exhaustive. Please contact your nearest FICO office for further details.



In the event of a casualty likely to give rise to a claim the insured must:
Immediately notice to policy issuing office.
Give brief details as to name of vessel, place of occurrence, date & time of casualty, circumstances leading to incident.
Seek appointment of surveyor to inspect and assess loss.
In case of theft – notify police.
In case of fire – secure assistance of fire brigade to extinguish fire.
Seek appointment of adjuster in case of Ocean going Vessels where necessary.
Submit a Claim Form duly filled in.
Take all necessary steps to minimise loss.

ESSENTIAL DOCUMENTS
Certified copy of Note of Protest by master
Marine Casualty Form
Insured's report on occurrence.
Survey Report
Original Repair Bill, Cash Memo, Invoices
Weather Report by Meteorological Department
Affidavits filed by rescue vessels
Certificate of Survey for inland vessels
Registry certificate
Free Board Certificate
Status / copies of Mandatory certificates
Notarized statements from Master and Chief Engineer of the vessel
Log Book extracts (Engine & Deck)
Crew list with details of competency certificates
Claim Form duly filled in with supporting documents

Note: Policy details given are indicative, not exhaustive. Please contact your nearest FICO office for further details.

DOWNLOAD CLAIM FORMS

Fidelity
Marine
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