You may insure your business against loss due to theft and fraud from employees by purchasing fidelity insurance. Employees are defined as permanent employees or service contracts whose performance and control can be directed during the time of business.
Financial Service Providers, Category I or IV, who receive or hold client financial products or funds of or on clients must maintain suitable guarantees of a minimum of R1 million or suitable fidelity insurance and professional indemnity cover of a minimum of R1 million each.
-A reminder to inform your clients if you are a FSP and you have fidelity and/or indemnity insurance
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