Fidelity Bond

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Fidelity Bond

An insurance device in the form of a personal guaranty that protects against loss resulting from disreputable or disloyal employees or other individuals who possess positions of confidence.

A bank might, for example, insure itself against losses deliberately or negligently caused by their officers and staff through the execution of a fidelity bond. If such losses occur, the amount of the bond is forfeited to reimburse the losses.

References in periodicals archive ?
Segal Select Insurance Services Inc, a fiduciary insurance and fidelity bond broker in the Taft-Hartley market, has announced that it has acquired a brokerage.
TechInsurance offers Cyber Liability Insurance, Errors and Omissions Coverage, General Liability Insurance, and Fidelity Bonds.
One reason that fidelity bonds have such low premium-to-payout ratios is that the bond policies are complicated and somewhat ambiguous.
This raises insurability questions, particularly in the area of fidelity bonds.
The first refers to a loss caused by misplaced trust and an inadequate bond limit that could be worse today because of changes in wording of some fidelity bonds.
Fidelity bonds provide coverage for employee dishonesty therefore protecting both the contractor and the owner.
Surety One, a Poindexter Surety Group company, announces the availability of ERISA Fidelity Bonds on an expedited order basis.
Through its principal subsidiary, Western Surety Company, CNA Surety provides surety and fidelity bonds in all 50 states through a combined network of approximately 37,000 independent agencies.
Available for more than 20 years, the program provides general/professional liability, workers' compensation, fidelity bonds, and employment practices liability.
Traditional fidelity bonds and crime policies have a number of important limitations to consider in light of the emerging risks of electronic commerce.
According to chief underwriter Carlyle Poindexter, "We always see a surge in demand for public official and fidelity bonds immediately following general elections.
Initially, we will offer our personal auto and surety and fidelity bonds products, followed by the rollout of our homeowners' and commercial products in 2009.