What is a Fidelity Bond?
Fidelity bonds protect an employer from employee theft. With a fidelity bond, the employer guarantees money and property from damage by an employee's negligent or dishonest actions. Insurance companies, security firms, and banks typically require fidelity bond coverage.
Brunswick Companies provides the surety and fidelity bonds you need at the best rates in all 50 states.
Fidelity Bond Coverage
Get the right coverage for your business with a fidelity surety bond. For the right amount of coverage for your business, consider these three types of fidelity bonds:
- Blanket position bonds offer the same amount of coverage for all employees, a favorite for large businesses.
- Position schedule bonds provide specific coverage for each job position listed in the policy.
- Name schedule bonds provide specific coverage for each individual employee listed in the policy
Types of Fidelity Bonds
Employee dishonesty bonds protect your business when your employees steal from the company. Any company whose employees oversee financial transactions, including registers, could benefit from having dishonest bonds.
Business Services Bonds
Business services bonds protect your clients when your employees steal from them. Any company sending employees into the field could benefit from having business services bonds in place.
ERISA or Pension Bonds
For private sector employee benefit plans, the Employment Retirement Income Security Act (ERISA) sets rules and standards of conduct for investigating and managing assets. An ERISA bond protects the retirement plan against losses caused by fraud or dishonesty.
Janitorial Services Bonds
Required by many states, a janitorial bond protects both clients and the janitorial service business. This bond guarantees any unexpected expenses to cover a customer’s reimbursement for a claimed loss.
The notary bond protects the public from a notary’s negligent mistakes or dishonesty. As a measure of risk management, the bond allows victims of wrongdoing to file for reparation.