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Fidelity clause covers all employees

In a recent case, National Commission observed that the policy defined an employee to include officers, clerks, servants and other employees

Topics
Insurance industry | insurance cover | New India Assurance

Jehangir B Gai 



Jehangir B Gai

R R Chokhani Stock Brokers, a private limited company headed by Ramakant Chokhani, was engaged in arbitrage bet­ween the (NSE) and the Bombay Stock Exchange (BSE). The Securities and Exchange Board of India (SEBI) made it mandatory to obtain insurance coverage. So the broker took a policy of Rs 1 crore through New India Assurance, and renewed it each year. The policy included "fidelity" coverage.

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First Published: Sun, February 07 2021. 20:05 IST

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