No matter how many precautions you take as a business owner, from employee screening to supervision, employee dishonesty and theft can still happen. Fraud can cause you to lose important data or experience a major financial loss without coverage. Pipeline Insurance offers fidelity bonds, which indemnify your business if you experience a theft.
A fidelity bond should be considered if even one of your employees is entrusted to handle cash or valuables. There are several types of fidelity bonds available to fit your needs.
Many clients, particularly those in the financial services industries, will be concerned about your insurance if one of your contractors or employees steals property, money or funds while on their premises or accessing their systems. Most insurance policies will exclude coverage for intentional wrongful acts, including employee dishonesty. That is why a fidelity bond or commercial dishonesty bond is so important to protect your business.
A business services bond will give you protection against the loss of a customer's money, supplies, equipment or personal belongings due to dishonest acts by one of your employees while on the customer's premises. This type of fidelity bond is a good choice for businesses such as contractors, dog sitters, house sitters and more and helps you stand out from competitors who are not bonded for fidelity.
This type of fidelity bond protects your business against financial losses due to the fraudulent activities of one or more employees. The loss may be due to employee theft of money, securities or other forms of property. Many businesses can benefit from this type of bond, including professional offices and nonprofits.
Under the Employee Retirement Income Security Act of 1974, trustees of pension funds must have fidelity bond coverage equal to a minimum of 10% of the plan's total assets. An ERISA bond will protect beneficiaries and participants from dishonest acts of a fiduciary who handles benefit or pension plans.
Will your business be liable if an employee steals from a customer? If you are not sure, you are probably not covered. A third party fidelity bond will give your business the coverage it needs if there are allegations of employee theft or fraud. Contact Pipeline Insurance Services today for a free quote for fidelity bonds to get your business the coverage it needs