Public Official Bond

Public Official Bond

A bond or insurance policy covering losses resulting from the negligence or mistakes made by a bureaucrat or other public official. For example, if a bureaucrat mismanages a government-owned bank account such that there are significant losses, the public official bond will compensate the government. See also: Public employees blanket bond.
References in periodicals archive ?
Surety One, member of the Poindexter Surety Group, has completed its preparations for increased public official bond demand.
Dragon Surety offers a full range of Commercial bond products including License and Permit Bonds, Public Official Bonds, Court Bonds (judicial, admiralty, and fiduciary bonds), Service Bonds and ERISA.
Commercial surety bonds, such as license or permit bonds and public official bonds.
Its products include contract bid, performance and payment bonds, non-contract surety bonds such as public official bonds, license and permit bonds, court fiduciary and judicial bonds, and fidelity and crime insurance through select agents and brokers.
NJSBAIG provides General Liability, Boiler & Machinery, Errors & Omissions, Worker's Compensation, Umbrella Liability, WC Self-Funded Accounts, Automobile Liability, Public Official Bonds, Property Damage, Crime, Discounted Appraisal Services, and WC Group Accounts to its member districts.
The bonds will initially be available in Iroquois' Mid-Atlantic Region and will include access to license and permit bonds, public official bonds, fiduciary judicial court bonds, miscellaneous surety bonds, corporate fiduciary liability insurance, and fidelity bonds (including ERISA) through The Hartford's Orlando Bond Center.
Express Surety, a division of Reliance Surety, specializes in providing license and permit bonds, probate and public official bonds and fidelity bonds for smaller sized accounts.