What is Public Liability Insurance?
Goldstar’s Fidelity Guarantee Insurance protects the insured against losses caused by disloyal staff/employees holding positions of trust.
Dishonesty of employees can be difficult to detect. That’s where Goldstar are here to help and provide protection in the case an employee or group of employees act dishonestly to defraud a company of monies and/or goods.
What’s coveredThe Policy covers the loss sustained by the employer by reason of any act of forgery and/or fraud and/or dishonesty of monies and/or goods of the employer on the part of the employee Insured, committed on or after the date of commencement of the Policy during uninterrupted service with the employer.
The loss should be detected during the continuance of the Policy or within 12 calendar months of the expiry of the Policy and in the case of death, dismissal or retirement of the employee within 12 calendar months of such death or dismissal or retirement whichever is earlier.
The cover may be required in respect of a single employee or a group of employees. There are three types of Policies normally issued by the Insurer for this clause of business namely “Individual Policy”, “Collective Policy” and “The Blanket Policy”.
- The blanket policy: covers all guaranteed employees
- Collective policy: covers named and unnamed individuals
- Individual policy: Covers one person and responds to theft or fraud by the person within the policy period and terms of employment.
What’s not covered
- Any losses, expenses or costs incurred outside the geographical area
- Loss after a change in occupation
- Unexplained shortages/losses
- War and related risks
- Loss of interest
- Consequential loss of any kind
- Political risks
- Any employee from the time the insured becomes aware that such employee has committed any fraud or dishonesty
- Cover non-employees like sub-contractors, auditors, solicitors unless specifically included from inception
- Political Violence and Terrorism: Cover against political violence and terrorism
Other types of insurance cover
You will need contents insurance, sometimes known as all risk cover, for items for which you require cover out with the home. Please provide details of these items at the time of quotation to ensure that the policy provided meets with your requirements.
Accidental Damage cover provides protection against costs incurred through damage that you, your family members or visitors may cause to the structure of your Building or to your Contents. Examples of incidents which would be covered under this extension include putting your foot through the loft floor damaging the ceiling below, leaving a tap running leading to water damage or carpet spillages. Such incidents would not be included under a policy taken out to cover Standard Perils only.
Additional charges will apply and in certain circumstances this cover might not be available.
Items kept in the garage or garden sheds will be covered under the Contents section of your policy provided you have included their value in the total sum insured declared. Limits may apply to the amount that can be claimed for theft of items taken from outbuildings and additional charges may be made for certain items such as ride on mowers. Cover for motor vehicles and motorcycles is excluded. Please declare your requirements for cover kept in outbuildings at the time of quotation to ensure that the policy provided meets with your requirements.
In most cases you will need to arrange cover for your own contents and personal possessions. Please refer to your tenancy agreement to check what, if any cover is provided by your landlord.
An excess is the amount a policyholder is required to pay towards the cost of any claim. You may be asked to pay this amount to a company that has carried out repairs on behalf of your insurer, or alternatively the sum will be deducted from any settlement received.
- Ensure you declare a list of items to be insured under contents insurance including serial numbers, model, make and have the correct sum insured
- Always keep valuables safely and locked out of site to protect against the risk of theft