BPI/MS Fidelity Guarantee Insurance protects an Insured Company from any financial loss directly sustained arising from Fraud or Dishonesty committed by a covered employee.

There are three types of Fidelity Guarantee Policies:

1. Name Basis – this covers the employee on a per name basis with the corresponding position and the amount guaranteed.

2. Position Basis – this covers the employee on a per position and the amount guaranteed per position.

3. Aggregate Limit Basis – this covers all the employees, amount guaranteed and the Annual Aggregate Limit.

Factors which will make Fidelity Guarantee respond:

1. Direct Financial Loss – implies money matter, values, revenues, expenditures or the administering of the financial affair of the company.

2. Loss directly sustained – exact or complete instant loss to the company without another person or company coming in between.

3. Fraud or Dishonest – the act of stealing, cheating or deceiving that cause the financial loss to the company.

4. By a covered employee – the act committed by the employee for which the premium was paid for as declared in the policy.