Would an Employee Ever Steal From You?
Protect Your Business From Crime and Theft
Fidelity & Crime Bond insurance addresses the most common threats to organizations, including:
losses due to employee dishonesty
credit card forgery
computer fraud and theft
the disappearance or destruction of property
Trusted employees, internal and external oversight, risk management controls… you may believe that your company has everything in place to prevent fraud. But when it comes to occupational fraud and abuse, no business is safe. Fraud can happen in any organization, large or small, at any time, so it is important to have the right coverage.
Crime insurance protects the insured (such as a business owner or corporation) from malicious acts from employees or outside persons.
Fidelity | Crime Bond is not the same as being Bonded or having a Bond. These often get confused.
Bond insurance (also known as "financial guaranty insurance") is a type of insurance whereby an insurance company guarantees scheduled payments of interest and principal on a bond or other security in the event of a payment default by the issuer of the bond or security. It can also indemnify (or make a payment to) a person or an organization when a service provider (such as a contractor) does not provide or finish what they promised to do. 😞
So this type of insurance instrument provides financial guarantees for failure to provide a service or value to the recipient of the project or contract. Bonds pay a third party not the insured.
For example, you want a contractor to build you a new home. You pay the contractor 50% of the project in advance. If your contractor does not deliver - or leaves town with your money before completing the job, you may be out that money. However, If the job has a completion bond, the insurance bonding company would pay another contractor to complete the home for you.
We know you want to protect your business from the unexpected.
We are here to help you minimize your risks, understand the different kinds of coverage, and protect your investments. 🙋 Call or email Jennifer with any questions - she is our dedicated Commercial Lines Account Executive and knows everything there is to know about Fidelity | Crime Bond Insurance. It's fast and easy to get a quote or enroll.