fidelity bond

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Fidelity bond

Blanket Fidelity Bond

A bond or insurance policy covering a company in the event it loses money as the result of employee theft or fraud. It is important to note that blanket fidelity bonds generally only cover situations in which an employee commits fraud for personal gain; it does not cover situations in which the employee, without support or knowledge of management, falsifies trading so that it makes the company appear healthier than it is. The Federal Bonding Program, run by the Department of Labor, insures or guarantees the insurance of ex-offenders whose employment adds significant risk of theft or fraud. The SEC requires brokerages to be covered by a blanket fidelity bond. See also: Bonding, Operational Risk.

fidelity bond

fidelity bond

A special insurance policy that covers losses caused by dishonest employees. Property management companies and others with employees who handle money belonging to clients should generally obtain fidelity bonds.Also called a surety bond.

References in periodicals archive ?
Brian Smith, Segal Select Insurance Services Inc's COO, said, 'As the premiere fiduciary insurance and fidelity bond broker in the Taft-Hartley market, this acquisition expands our core clientele and further increases Segal Select's West Coast presence.
TechInsurance recently introduced new carriers for fidelity bond insurance, expanding the coverage options available to technology professionals.
Because the actual payment may not occur for years after the bond's purchase and because of the cost of pursuing a fidelity bond claim, the real return on fidelity bonds is lower.
Fidelity bonds, which do cover employee dishonesty and fraud, hinge on the intentions of the perpetrator, in this case the trader.
Yet today the story could be even worse, for today many fidelity bonds offered by U.
The company underwrites fidelity bonds, NASD bonds, directors and officers and errors and omissions insurance for members and associate members of the Investment Company Institute.
The Guarantee Company of North America, a property and casualty insurance company serving insurance needs for over 129 years and Canada's leading issuer of surety and fidelity bonds, announced effective today its wholly owned subsidiary located in Mt.
com/fe) is a leading provider of innovative risk management solutions for the financial services industry, including fidelity bonds, property and casualty and professional liability.
com/fe) is a leading provider of innovative risk management solutions for the financial services industry, including fidelity bonds, property and casualty, professional liability, commercial crime and fidelity coverage, and e-commerce risk management solutions.
The Guarantee Company of North America, Canada's leading issuer of surety and fidelity bonds, announced today they have closed the purchase of shares of Atlantic Alliance Fidelity and Surety Company.
F&D, founded in 1890, is a leading provider of innovative risk management solutions to the financial services industry including fidelity bonds, property and casualty and professional liability coverages.
Founded in 1890, F&D is one of the country's leading providers of innovative risk management solutions to the financial services industry including fidelity bonds, property and casualty and professional liability coverages.