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.
Insurance coverage for this request includes: workers compensation; package including property commercial general liability crime and inland marine; automobile school leaders errors and omissions liability; umbrella liability; boiler and machinery; cyber liability; student accident; public official bonds.
Commercial surety bonds, such as license or permit bonds and public official bonds.
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.