Post by – Joe Allen –
Fidelity & Crime Coverage
We all have insurance where it is required and sometimes, it seems we have more insurance protection than we actually think we would need. However, there is an area many of us overlook – Fidelity & Crime coverage.
In most cases, we never realize this specific need until we suffer a loss. For many small companies, this loss could be the turning point which causes us to shut down operations, or at the very least, negatively impact our working capital and vendor relationships.
What is a Fidelity Bond?
A fidelity bond is a form of insurance protection which covers policyholders for losses they incur as a result of fraudulent acts by specified individuals. This typically insures a business for losses caused by the dishonest acts of their employees. This is an area of protection business owners should consider, and the cost is not prohibitive.