Fidelity betrayal insurance

Covered risks :

The company guarantees compensation to the employer (the insured ) for material losses incurred by his money or property as a result of an accident of waste or embezzlement committed by the worker (the insured ) during the performance of his job and during the insurance period indicated in the schedule or any subsequent period thereof, provided that waste or embezzlement is proven According to a final criminal judgment, with a maximum amount of insurance indicated in the policy schedule for the worker (the insured ).    

However, if the company is certain that the insured has implemented the special conditions stipulated, then it will have the following: :

In the event that it is impossible to issue a final criminal judgment due to the escape of the insured worker and the issuance of a judgment in absentia against him, and the company has verified that the insured worker has been convicted based on the books, records, documents, internal examination reports, investigations and forensic evidence ( police investigations and the Public Prosecution ) . (The employer ) in full without prejudice to the right of the company to recover the compensation it paid in the case of the innocence of the insured worker pursuant to a final criminal judgment issued after that. Compensation to the insured (The employer ) in full 0 If it is proven from the reality of the evidence and documents, as well as reviewing the records of the insured, which leads to the company being convinced of that  .

In other than the two previous cases, the compensation arising from an accident of waste or embezzlement committed by the insured worker is not binding on the insured unless this is proven by a final criminal ruling convicting the worker who committed the accident .


  1. Thewaste or embezzlement committed by the insured during the occurrence ofany accident covered by the insurance coverage of the policy      .
  2. Thewaste or embezzlement committed by the insured if he has the right to sign or act alone on behalf of the employer(the insured ).     
  3. Thewaste or embezzlement committed by a family member of the employer(the insured ) of the first degree      .
  4. Thewaste or embezzlement committed by temporary employment .
  5. Incidents of waste or embezzlement resulting from the insured signing of trust receipts even if criminal judgments of conviction were issued according to which the subject matter of the trust receipt is outside the scope of the insured’s custody 

Special conditions   :

  1. The validity period of the insurance expires from the date on which the insured ceased to perform his work for any reason whatsoever, with the exception of compelling circumstances accepted by the company. .
  2. The employer(the insured       ) Throughout the insurance period, he must make every effort to take stock and review periodically and continuously on the custody of the insured to ensure that it is always safe, according to sound technical and practical principles and in proportion to each job and every type of the different types of contract, otherwise his right to claim compensation  .
  3. Thecompany is not responsible except for accidents that are committed during the insurance period indicated in the policy schedule, during which it is discovered or during the three months following its expiration, as well as in the case of the insurance termination For the insured for any reason, such as replacement, leaving the service, or death, in the event that the insured was not aware of them at the time of any of these earlier dates , and the validity of the insurance shall cease from the date of discovering any accident that falls within the scope of the risks covered by this policy   .

What is meant by the discovery date is the day the insured or his representative knew of the incident of waste or embezzlement without waiting for the final result of the book examination and inventory inventory  .

  1. The employer(the insured ) shall upon discovering any waste or embezzlement in the insured’s custody or suspicion of committing any of them , he must initiate the day he becomes aware or his representative becomes aware of the following measures, otherwise his right to claim will be forfeited.        :

1- To notify the company by a registered letter, provided that his notification includes the document number, the nature of waste or embezzlement and its value, as well as the address of the insured        .

2- To initiate immediate notification of the police or the Public Prosecution office       .

3- To notify the company of the date of notifying the police or the prosecution, the record number, and the prosecution’s decision .      

4- That he withholds any sums or dues of the insured and does not dispose of anything from them until the issuance of the final judgment in the criminal case, and he must provide the company with a statement on these sums and dues for deduction from the compensation paid by the company .       

5- To file a civil lawsuit against the insured for the total loss suffered by him, within the legal date .