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What is Fidelity Insurance?
The name Fidelity Insurance goes back to the 19th century, and it basically means all employees are under a duty of fidelity to their employer. The duty of fidelity is also known as the duty of good faith, or of loyalty. So, Fidelity Insurance is exactly that. Fidelity Insurance protects a business against an act of infidelity, such as employee theft, forgery and embezzlement. These days, it can include social engineering fraud too.
Why do I need Fidelity insurance?
Because it’s often the person closest to you, who you trust the most, who finds a way to exploit your weaknesses. Sad but true.
Do all Business Insurance policies cover Fidelity automatically?
No. Some do, to be fair, but often only for smaller amounts.
Are Fraud losses worth insuring against?
Yes! In 2023, over £2.3 billion was lost due to fraud, with the average cost being £145,000 per case.
Have a question?
Our team is
here to help!
One of our team will talk to you about your current circumstances in order to advise the best way forward. If you’d prefer to visit us at our offices in Tamworth, feel free to pop in! Just check our office hours on Google to make sure we’re open.
Not always - but yes, in most cases a police report is mandatory.
No. Some policies cover all historic losses as long as it was discovered within the policy period.
Certain controls will be mandatory, such as payments over a certain amount having to be authorised by two people. However, with the advent of artificial intelligence (AI) it is becoming increasingly easier to bypass the controls - especially if the fraudster was part of the management team who put the controls in place!
The cost of Fidelity Insurance can vary massively, depending on the size and nature of the business, what previous losses they have and what controls are in place. The minimum premium is often in excess of £5,000 per annum.
Not all insurers offer this type of insurance in isolation, amongst those who do are Allianz, Aviva, Zurich and Underwriters at Lloyds
If you need to make a claim on your insurance, you need to call your insurance broker or insurance company straight away.
If you have a policy with Prizm Solutions, then you simply call us.
As your broker, we are here to help – and we will provide you with all the contact numbers you need to deal with a claim when you take out the policy.
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Prizm Solutions Limited
First Floor
The White House
16/20 Church Street
Tamworth
B79 7DH
Prizm Solutions Ltd are authorised and regulated by the Financial Conduct Authority.
Prizm Solutions Ltd are registered in England and Wales, Registration Number: 05936749, Registered Address: First Floor, The White House, 16/20 Church Street, Tamworth, B79 7DH.
TERMS & CONDITIONS | PRIVACY POLICY | © PRIZM SOLUTIONS LTD 2026. ALL RIGHTS RESERVED | DESIGN BY SWD
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We’re here to assist you to put plans in place, to help provide you with some protection from those unexpected curveballs that can be a normal aspect of everyday life!
So, let us help you find the right cover for you.
01827 313 931
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