An insurance policy required of every broker-dealer to provide protection for the firm in the event of fraud or theft by broker-dealer employees.
is a bond or policy that indemnifies the insured for loss caused by the dishonest or fraudulent acts of its employees. It may be written on a blanket, individual, or schedule basis. Also referred to as dishonesty insurance.
Insurance covering an employer for loss caused by dishonest acts of specific employees.
A written promise to indemnify against losses from theft, embezzlement, defalcation, and misappropriation of public moneys by government officers and employees. Refer to SURETY BOND.
a business insurance policy that protects the employer in case of any loss of money or property dues to employee dishonesty
an inexpensive way to protect an employer against losses resulting from fraudulent or dishonest acts by employees
an insurance policy that protects a business from theft, forgery, or embezzlement by employees
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 that reimburses an employer, up to the stated amount, in the event that an employee commits a dishonest act covered by the bond. Also known as employee dishonesty coverage. A nonprofit can purchase a fidelity bond as a stand alone or part of a crime coverage package.
A class of bonds which guarantees an employee's honest discharge of duty.
An insurance policy that reimburses an employer for financial loss resulting from employee dishonesty.
A bond that will reimburse an employer, the insured, for loss due to the dishonest acts of a covered employee.
Section 412 of ERISA requires that fiduciaries and other persons who handle or are responsible for the assets of a qualified plan must be bonded. The bond is to reimburse the plan if any plan assets are lost through fraud or dishonesty of persons handling plan funds. Fraud or dishonesty includes such acts as theft, forgery, embezzlement, misappropriation, or willful misapplication of plan assets.
A bond that covers loss due to employee dishonesty.
Class of bonds that guarantees an employee’s honest discharge of duty; written to protect an insured from dishonest acts by employees.
A bond which pays an employer up to an amount stated in the bond for losses caused by dishonesty or infidelity on the part of an employee.
A bond which will reimburse an employer for loss, up to the amount or penalty of the bond, sustained by the employer named in the bond by reason of any dishonest act of an employee covered by the bond.
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.
See Employee Dishonest Insurance.
An instrument that provides protection to an employer against loss caused by the dishonest or fraudulent acts of employees.
Coverage designed to protect an employer from financial loss due to the fraudulent activities of one or more employees. The coverage includes protection for loss of money, securities, and other property of the insured. Some scheduled policies are still available, but the majority are written on a blanket basis. This provides coverage for all employees, subject to the policy definitions. The limit of liability is "per loss" and is applied on an occurrence basis. All acts involving the same employee or group of employees is considered one occurrence. Click here to shop for Fidelity Bonds at einsure.com
an agreement whereby the surety (insurance company) agrees to reimburse an employer for a loss arising out of a dishonest act by one or more of his employees.
A contract which indemnifies an employer for losses caused by dishonest or fraudulent acts of employees.
A bond which will indemnify an insured for loss caused by a dishonest act or fraudulent act of an employee covered under the bond. Also known as dishonesty insurance.
An insurance policy which reimburses an employer for losses resulting from dishonest acts of employees. May be written to cover specific employees or all employees, using either a schedule or blanket basis, or by scheduling positions versus named persons.
Protects an insured business against dishonest acts such as embezzlement, forgery and theft committed by employees.
A fidelity or surety bond covers the association for a loss resulting from its officers, directors or employees' dishonest acts.
Protection against allegations of employee theft of tangible or intangible property from a client. Coverage should be provided on your premises and at the customer’s location.
A contract of fidelity insurance; a guarantee of personal honesty of the officer furnishing indemnity against his defaultation or negligence; a form of insurance or suretyship which protects a party against loss from the dishonest of his employees.
An insurance policy purchased by a company to protect against losses from dishonest employees. It can cover the theft of money or other company assets.
Bond that protects an employer against dishonest or fraudulent acts of employees, such as embezzlement, fraud, or theft of money.
A security provided by an insurance company protecting the plan against fraud by the trustee. This must be for at least 10% of the value of plan assets.
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.
Each securities firm is required to have a fidelity bond (insurance policy) to provide protection for its customers in the event of fraud.
Insurance coverage carried by brokerage firms to protect investors from losses due to employee dishonesty such as larceny and embezzlement.
An assurance, generally purchased by an employer, to cover employees who are entrusted with valuable property or funds. Example : A landlord employs a clerk who collects rents. To safeguard these funds during the collection process, the landlord purchases a fidelity bond the clerk.
A form of protection which reimburses an employer for losses caused by dishonest or fraudulent, acts of employees.
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.
A class of bonds written to protect an Insured Employer from dishonest acts by Employees.
A bond that will reimburse an employer for losses caused by dishonest or fraudulent acts of employees.
a bond which reimburses an employer for loss due to theft by an employee. This type of exposure is now commonly addressed by the Employee Dishonesty Coverage Form under the Commercial Crime Coverage part of a commercial package policy. (See EMPLOYEE DISHONESTY and SURETYSHIP)
see Employee dishonesty coverage.
A contract of fidelity insurance; a guarantee of personal honesty of the person furnishing indemnity against defalcation or negligence; a form of insurance or suretyship that protects a party against loss from the dishonesty of employees.
An insurance bond that is obtained to protect against financial loss from dishonest acts of persons entrusted with authority to manage funds.
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.
Bond designed to protect an employer against dishonest or fraudulent acts of employees, such as embezzlement, fraud or theft of money.