A type of bond that is obtained by an employer to protect against economic loss from dishonest acts of its employees (Source: FNMA Selling Guide, Glossary)
Sometimes referred to as a "dishonesty" bond, it insures a Benefit Fund against dishonest acts and/or theft of Fund moneys or property by the Trustees or any employees of the Fund
A Bond which will reimburse an employer for loss, up to the amount of the bond, sustained by the employer named in the bond (the Insured or Principal) by reason of any dishonest act of any employee covered by the bond Also known as Employee Dishonesty bond The Fidelity Bond is frequently purchased as a part of the Crime Policy
Covers the employer for loss caused by the dishonest act of an employee(s) Unlike a surety bond, a fidelity bond is purchased for the employer's benefit only These can be obtained as a blanket bond covering all employees or a schedule bond covering only certain employees/positions
formal agreement under which an employer would be reimbursed for loss, up to an amount specified, that may result from a dishonest act of covered employee occupying a position of trust Community associations may purchase fidelity insurance to protect themselves from theft by residents or managers
A bond which will reimburse an employer for loss up to the amount of the bond, sustained by the employer named in the bond (the insured), due to any dishonest act of a covered employee
A form of protection that covers policyholders for losses that they incur as a result of fraudulent acts by specified individuals It usually insures a business for losses caused by the dishonest acts of its employees
1 A method by which employers insure themselves against the dishonesty of their employees through which the company suffers financial loss It is a legal contract and is not something you carry around like a driver;s license but something similar to an insurance policy, applying to a specific set of circumstances
A bond which will reimburse an employer for loss up to the amount of the bond, sustained by an employer (the insured) by reason of any dishonest act of an employee (or employees) covered by the bond
Every plan fiduciary and every person who handles funds must obtain a bond The minimum bond amount is the greater of $1,000 or 10% of the funds handled Anyone with discretionary authority over the plan's administration or funds must be bonded
Insurance coverage purchased by an employer to cover employees who are entrusted with valuable property or funds, to protect against specified losses arising from any dishonest act by these employees
A type of insurance used by the funds to reimburse any fraud by the employees of the distribution company The amount of Fidelity Bond coverage for each fund is set by law The trustees of a fund have the responsibility of making sure that the coverage is adequate