Skip Ribbon Commands
Skip to main content
Apr 07
Familiarize Yourself with Fidelity Bonds

More often than many realize, employees steal from their employers. It's not just monies that are stolen.  Thefts can include supplies, inventory and even company time.  Theft is not just limited to the company's office or job site.  Thefts can occur when employees are on site at a customer's home or business.

There's a product that can offer protection to cover employee dishonesty and theft. A fidelity bond indemnifies an employer against financial loss due to the dishonesty of an employee or protects a business from certain types of damage caused by employees.  A fidelity bond shields a company from expenses that are not covered by other policies.

There are several types of fidelity bonds, each providing specific coverage:

  • Employee Dishonesty
    Do you want to protect yourself from employee theft?  Employee Dishonesty is a generic term describing fidelity bond coverage guaranteeing against loss caused by dishonest officers or employees of a commercial firm or by dishonest public officials or employees.  For dishonesty, there is no deductible and there is very basic coverage for dishonest acts of employees.

  • Business Service Bond
    Do you want to protect your clients from theft committed by your employees?  Business service bonds are used in such industries as in-house childcare.

  • Commercial Crime Bond
    Do you want to cover more than just employees? Commercial crime is really more like insurance than a typical bond.  If a claim is made the policy owner will likely have to pay a deductible to recoup any loss.  Crime insurance can cover much more than employee dishonesty, including employee theft; forgery or alteration; inside the premises - theft of money or securities; inside the premises - robbery or safe burglary of other property; outside the premises; computer fraud; and money orders and counterfeit paper currency.

  • ERISA Bonds
    The Employee Retirement Income Security Act requires this bond for employers who offer 401(k) or other retirement plans.  The bond must equal 10% of the assets they manage, up to a maximum of $500,000 and are in place to protect the plan from the misappropriation of funds.

Goldleaf Surety Services has a number of good surety markets that write fidelity bonds. For fidelity – or all types of bonds – you can access Goldleaf through Big “I" Markets.


​127 South Peyton Street
Alexandria VA 22314
​phone: 800.221.7917
fax: 703.683.7556

Follow Us!

Empowering Trusted Choice®
Independent Insurance Agents.​