Fidelity Bond Coverage

Fidelity Bonds Can Help Safeguard Against Employee Theft

Although most businesses feel their assets are secure, employee theft can and does occur. When safeguards such as thorough employee screening and careful supervision aren’t enough, Nationwide offers fidelity bond coverage to protect against employee theft.

A fidelity bond should be considered when one or more of your employees is entrusted to handle cash or other valuable assets. Fidelity bonds include business services bonds, standard employee dishonesty bonds and ERISA bonds.

Find the fidelity bond coverage that fits your unique situation.

Business services bonds

Business services bonds provide protection for the loss of a customer’s money, equipment, supplies and personal belongings caused by dishonest acts of your employees while on the customer’s premises. More than providing protection, this type of fidelity bond is effective in differentiating your business from competitors who aren’t bonded for fidelity. A business services bond can be a good solution for businesses like janitorial services, contractors, dog sitters and house sitters.

Standard employee dishonesty bonds

Standard employee dishonesty bonds protect your business from financial loss due to the fraudulent activities of an employee or group of employees. The loss can be the result of employee theft of money, securities or other property. This type of fidelity bond can be a good solution for businesses like non-profit organizations and professional offices including CPAs, dentists and physicians.

ERISA bonds

The Employee Retirement Income Security Act of 1974 requires trustees of pension plans to have fidelity bond coverage equal to at least 10% of the total plan’s assets. ERISA bonds protect participants and beneficiaries from dishonest acts of a fiduciary who handles employee benefit or pension plans, including 401(k)s.

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