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Fidelity Bonds from Cal-Nevada Insurance Agency

Even the best businesses are sometimes hit by the acts of dishonest employees. And it’s not only fraud, dishonesty or theft by employees against their employers; a business can also be held liable if an employee steals from one of its clients.

At Cal-Nevada Insurance Agency, we provide our business insurance clients throughout San Francisco and the northern California, Arizona and Las Vegas, Nevada areas with coverage for just such events. A fidelity bond, sometimes called employee dishonesty or crime insurance, primarily protects a company against acts of employee theft.

Risks Fidelity Bonds Cover

Generally, fidelity bonds act as an employee dishonesty insurance policy, protecting against acts of:

  • forgery
  • theft of money
  • securities or other valuables from the business or a client/customer of the business
  • computer fraud, among others

These kinds of bonds are usually sold as either “blanket” bonds or “schedule” bonds. A blanket bond is often chosen to insure all your employees. Large employers, companies with high staff turnover, non-profits, and volunteer organizations frequently opt for a blanket bond. For those with only a few employees (or a few employees that need coverage), a schedule bond may be the appropriate option. It is commonly used to insure employees who handle money or keep company financial records. It can also cover credit card fraud, counterfeiting/forgery and investigative costs.

Other Important Information

Insurers often require a background check for employees listed for coverage under a fidelity bond, and most will look at your history of losses due to employee dishonesty. If you offer certain ERISA-regulated benefit plans, you are required by federal law to get a specific type of fidelity bond, referred to as an ERISA bond, which must be equal to at least 10% of the value of the assets the insured employee will handle.

If an employee steals from you, your clients or your benefit plan, you’ll need the coverage of a fidelity bond.

For further information or to schedule a meeting with an advisor, contact us at (866) 670-5948, or e-mail us at