Fidelity Insurance
Protect Your Business From Theft and Dishonesty
As a business owner, even if you take every precaution possible to ensure the security of your business assets, theft and dishonesty can still happen. Without the right coverage, businesses can lose important data or experience major financial losses as a result of fraudulent activity.
A Fidelity Bond from Schneiderman Insurance Agency can indemnify your company in the event of theft. Our coverage options range from the protection of businesses to the security of non-profit and professional organizations. With the right Fidelity Bond, you can cover your assets, including money, personal belongings, computer equipment, supplies, and more. Your business or organization can also cover any employees or volunteers.
Types of Fidelity Bonds
Fidelity Bond options from Schneiderman Insurance Agency include:
- ERISA Bonds - required under section 412 of the Employee Retirement Income Security Act for people who handle retirement plan funds. The bond protects the plan against loss from fraud or dishonesty, and the required amount is generally ten percent of the funds handled. It does not respond to breaches of fiduciary duty such as imprudent investment decisions or administrative mistakes, which fall to fiduciary liability insurance instead, per Department of Labor guidance.
- Employee Dishonesty Bonds - that cover fraudulent acts committed by employees on the property of your business, including theft and other violations.
- Business Service Bonds - that protect against theft of a client’s or customer’s property on their premises as a result of your employee’s careless actions.
While there are other options available, it’s important discuss the needs pertaining to your business with a licensed professional. At Schneiderman Insurance Agency, we walk through which of these fits your situation. Employee theft coverage also sits inside a broader commercial crime insurance, so it is worth looking at both and deciding where the coverage belongs rather than buying twice.
