The trend to lighter vehicles means that such components are being installed in motor vehicles. The cost is substantial and hence can be covered under the policy on additional premium.

Fabricated groups created with the intention of purchasing insurance. These groups are barred by law from being insured.

A fidelity bond covers a business for losses incurred as a result of fraudulent activities by specified individuals, generally the dishonest acts of employees. These bonds can be written in several different ways.
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US: A form of protection which reimburses an employer for losses caused by dishonest or fraudulent acts of employees.
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An obligation of the insurance company against financial loss caused by the dishonest acts of employees.
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See: “Bond, Blanket Bond/Fidelity Bond”
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See: Employee dishonesty coverage.

This is also similar to a collection or group Policy with the difference that instead of using names, the “positions” is guaranteed for a specified amount, so that a change in the person holding the liability of the Insurers in respect of each position remains limited to the amount guaranteed for the position, irrespective of the number of persons acting in that position. Also, instead of a specified amount for each position, a single amount of guarantee for all positions may be ‘floated.’

Where the entire staff or a number of selected individuals are to be covered a collective policy is issued. There are various types of Collective Policies:

The Policy covers the entire staff without showing names or positions. Such policies are only suitable for an employer with a large staff and the organization to make adequate enquiries into the antecedents of his employees.

This is a combination of a collective Policy and a floating Policy. An employer may safeguarded himself against loss of unforeseen amount by reason of defaults continuing for a long time y unusually ingenious methods of concealment by having a floating guarantee for any loss in excess of the individual amounts set out in the schedule.

The names and other relevant particulars in respect of individuals to be guaranteed are recorded in the schedule but the amount of guarantee is not so recorded. The amount of guarantee is floated over all the individuals to be covered. Each employee to be guaranteed or some or all of them, together, are covered for the amount so floated.

A contract of Fidelity Guarantee guarantees that if the employer suffers any direct financial loss arising out of dishonesty, default, embezzlement, forgery, fraud, larceny on the part of the employee(s) insured, the Insurers shill indemnify the said loss to the employer within the limitations prescribed by the Policy.

This type of policy is used where only one individual is to be guaranteed.