What is the definition of Fidelity Bond?

A Fidelity Bond provides protection to companies in cases where they incur losses because of the fraudulent and dishonest acts of their employees.

The insurance company will pay for the losses and the employees may either be named or titles of the employees. These are mainly employees that hold positions of confidence in the company.

The fidelity bond will cover acts such as willful misapplication, theft (whether physical or intellectual theft), embezzlement, larceny, misappropriation, forgery or wrongful abstractions. The cover stays whether the employees commit the fraudulent act by themselves or as a team.

A Fidelity Bond is useful since it keeps records and will help companies thinking of hiring an individual to check whether there has been dishonesty in the prospective employee's work history.

• Reinstatement
• Registered Principal
• Liquor Liability
• Businessowners Policy (BOP)
• Directors and Officers Liability Insurance