fidelity bond


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fidelity bond

n.
An insurance contract that indemnifies an employer for loss resulting from a fraudulent or dishonest act by an employee.
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Court of Appeals for the Sixth Circuit has ruled that a fidelity bond did not cover losses arising from actions by the former chief operating officer of Cleveland, Ohio-based St.
In its 2-1 decision, the Cincinnati appeals court ruled the fidelity bond had been terminated well before it took effect in 2010 because a credit union director knew of an employee's dishonesty before 2010.
Fidelity bond: If the TPA will handle plan assets, determine whether it has a fidelity bond to protect the plan against loss resulting from fraudulent or dishonest acts.
a fiduciary insurance and fidelity bond broker in the Taft-Hartley market, has acquired broker of record rights to certain fiduciary liability policies and fidelity bonds previously brokered by David Walker Insurance Services in San Francisco, the company said.
Segal Select Insurance Services Inc, a fiduciary insurance and fidelity bond broker in the Taft-Hartley market, has announced that it has acquired a brokerage.
works with plan sponsors and boards of trustees to obtain a full range of fiduciary insurance and fidelity bond coverage as well as employment practices liability insurance and cyber liability coverage.
For instance, the Securities and Exchange Commission has recently ruled that Crowdfunding groups must secure a fidelity bond with a minimum of $100,000 worth of coverage, stating that a "fidelity bond aims to protect its holder against certain types of losses, including but not limited to those caused by malfeasance of the holders officers and employees, and the effect of such losses on the holder's capital.
Carry a satisfactory fidelity bond on all of its employees whose duties involved the handling of funds.
In 1949, he and investors created Fidelity Bond and Mortgage Co.
Losses incurred directly by your firm may be covered by another type of insurance, such as a fidelity bond designed to respond to dishonest acts committed by an employee.
For permit to carry firearms, fidelity bond and bidding requirement, the fee is P500.
The McIlvenes also charge that the department screwed up in another way: by failing to apply a law that would have required FRM to carry a fidelity bond insurance against this kind of fraud.