Fidelity Bond
Definition. A Fidelity Bond reimburses a business for losses caused by dishonest acts of employees — theft, embezzlement, forgery.
Also known as: Honesty Bond, ERISA Bond
Similar to Crime Insurance but technically a bond (third-party guarantee) rather than insurance. Required for businesses handling client funds (financial advisors, fiduciaries). ERISA bond is a specific fidelity bond required for retirement plan administrators.
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Reviewed by California-licensed Property & Casualty insurance agent
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