| Before we get started lets clarify what a Fidelity | | | | bonds are usually required by private obligees but |
| Bond is. A "Fidelity Bond" is another name for a | | | | are required by some government entities. |
| Commercial Crime Policy. Many Agents consider it | | | | Its primary coverage is employee theft. This will |
| a surety bond but it is not it is a form of | | | | pay for loss or damage to money, securities and |
| insurance that protects the employer from theft | | | | other property directly from theft or forgery by |
| of a employee | | | | an employee. Several other agreements can be |
| "According to research conducted by the | | | | added or included in your Fidelity policy to protect |
| Association of Certified Fraud Examiners (ACFE), | | | | you from someone other than an employee. Such |
| U.S. organizations lose an estimated 7 percent of | | | | as: |
| annual revenues to fraud. Based on the projected | | | | Forgery or Alteration |
| U.S. Gross Domestic Product for 2008, this | | | | Inside the Premises - Theft of Money & |
| percentage indicates a staggering estimate of | | | | Securities |
| losses around $994 billion among organizations, | | | | Inside The Premises - Robbery or Safe Burglary |
| despite increased emphasis on anti-fraud controls | | | | of other property |
| and recent legislation to combat fraud." -acfe.com" | | | | Outside The Premises - Theft of Money & |
| A Fidelity Bond protects an employer from | | | | Securities and Robbery of Other property |
| employee theft. Usually, insurance companies and | | | | Computer Fraud |
| security firms are required to obtain a fidelity | | | | Money Orders And Counterfeit Currency |
| bond. Essentially Fidelity Bonds guarantee the | | | | Other coverage could apply depending on the |
| employer's money and property in the event that | | | | type of business and insurance company providing |
| an employee causes damage though negligent or | | | | the policy. |
| a dishonest. Fidelity Bonds or Employee Dishonest | | | | |