A fidelity bond is a form of insurance protection that covers policyholders for losses that they incur as a result of fraudulent acts by specified individuals. It usually insures a business for losses caused by the dishonest acts of its employees. A Fidelity Crime Shield Bond is meant to protect a company’s assets and is available for multiple types of companies including financial institutions and healthcare organizations.
The minimal coverage offered covers manager liabilities, such as the director and officers, and employee theft, also known as practices liability. The minimal coverage also handles errors and omissions, also known as professional liabilities.
If you decide to bond your company’s limit over one million, the Fidelity Crime Shield bond will also cover any theft on client premises, issues with computer and funds transfer fraud, any money securities, and other property inside or outside the premises of your company. The bond will also cover depositors forgery or alteration, credit debt or charge card forgery, money orders, and counterfeit currency.