Fidelity Bond or dishonesty bond is a form of protection that covers policyholders or business owners for losses that they incur as a result of fraudulent acts by specified individuals or employees. It usually insures a business for losses caused by the dishonest acts of its employees. An assurance is generally purchased by an employer to cover employees who are entrusted with valuable property or funds. The amount of the bond varies according to the applicant needs.
A Dishonesty bond protect and reimburse employers for losses caused by dishonest employees against theft, fraud and embezzlement.
We are based in Texas but we do service other states like California, Florida, Louisiana, Georgia, Oklahoma, Arkansas, New Mexico and many other States.
A landlord employs a resident manager who, among other duties, collects the Rent To safeguard these funds during the collection process, the landlord purchases a fidelity bond on the resident manager.
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.
Cleaning Service individuals or companies need this type of Dishonesty, Business service bond in case they were accused of stealing and missing valuable items from their clients place of residence or business while they performing their work.
The owner of the business purchasing the bond may be included in the coverage. This bond is therefore ideal for pet sitting, home sitting, dog walking, maintenance worker, janitorial worker, or almost any in home service.
Blanket bond (applying to all employees) or for each employee on an individual basis such as for a non-profit organization. Some businesses such as, brokerages, cash carriers, messenger services, courier services, in home care providers or other in home services also obtain these bonds for the security of their clients.