to collect on a
fidelity bond that Cumis had issued to St.
In February 2010 about two months before the massive fraud was uncovered, CUMIS issued a
fidelity bond to St.
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.
A surety bond doesn't cover theft and fraud, but a
fidelity bond does, and a state law requires the Banking Department to require the entities it regulates to obtain such a bond.
In its effort to reduce this fraud, Medicare now requires all DME providers to purchase a
fidelity bond for each store location in the amount of $50,000.
Tabbed dividers organize the contents: fiduciary duties of directors, liabilities of bank and thrift counsel, administrative enforcement, directors' and officers' insurance,
fidelity bond claims, indemnity, and a table of cases.
Some of the most common risks The Hartford found were not fully adopting the fiduciary protections provided by section 404(c) of ERISA; triggering the return of retirement plan contributions made by highly compensated employees because of low employee participation; lacking sufficient
fidelity bond protection against plan improprieties, thereby exposing the employer to greater financial liability; and using ineffective plan designs which limit retirement assets.
Fidelity Bond and Errors & Omissions Policies To protect from corporate malfeasance, reputable QIs are fully bonded, with a large per-occurrence policy that provides bonding up to the amount identified for each client in the midst of a 1031 exchange.
Blanchette's
fidelity bond, and took it to court in 2003.
The Company is in good standing in terms of its liability insurance, workers' compensation insurance,
fidelity bond, and business license.
It said it will file a claim under the
fidelity bond with its insurance company.
Is
fidelity bond coverage applicable in this situation?
