Fidelity Bond

An insurance device in the form of a personal guaranty that protects against loss resulting from disreputable or disloyal employees or other individuals who possess positions of confidence.

A bank might, for example, insure itself against losses deliberately or negligently caused by their officers and staff through the execution of a fidelity bond. If such losses occur, the amount of the bond is forfeited to reimburse the losses.

fidelity bond

Fidelity bond

See: Blanket fidelity bond

Blanket Fidelity Bond

A bond or insurance policy covering a company in the event it loses money as the result of employee theft or fraud. It is important to note that blanket fidelity bonds generally only cover situations in which an employee commits fraud for personal gain; it does not cover situations in which the employee, without support or knowledge of management, falsifies trading so that it makes the company appear healthier than it is. The Federal Bonding Program, run by the Department of Labor, insures or guarantees the insurance of ex-offenders whose employment adds significant risk of theft or fraud. The SEC requires brokerages to be covered by a blanket fidelity bond. See also: Bonding, Operational Risk.

fidelity bond

See blanket fidelity bond.

fidelity bond

A special insurance policy that covers losses caused by dishonest employees. Property management companies and others with employees who handle money belonging to clients should generally obtain fidelity bonds.Also called a surety bond.

单词	fidelity bond
释义	fidelity bond fidelity bond n. An insurance contract that indemnifies an employer for loss resulting from a fraudulent or dishonest act by an employee. Fidelity Bond Fidelity Bond An insurance device in the form of a personal guaranty that protects against loss resulting from disreputable or disloyal employees or other individuals who possess positions of confidence. A bank might, for example, insure itself against losses deliberately or negligently caused by their officers and staff through the execution of a fidelity bond. If such losses occur, the amount of the bond is forfeited to reimburse the losses. fidelity bond Fidelity bond See: Blanket fidelity bond Blanket Fidelity Bond A bond or insurance policy covering a company in the event it loses money as the result of employee theft or fraud. It is important to note that blanket fidelity bonds generally only cover situations in which an employee commits fraud for personal gain; it does not cover situations in which the employee, without support or knowledge of management, falsifies trading so that it makes the company appear healthier than it is. The Federal Bonding Program, run by the Department of Labor, insures or guarantees the insurance of ex-offenders whose employment adds significant risk of theft or fraud. The SEC requires brokerages to be covered by a blanket fidelity bond. See also: Bonding, Operational Risk. fidelity bond See blanket fidelity bond. fidelity bond A special insurance policy that covers losses caused by dishonest employees. Property management companies and others with employees who handle money belonging to clients should generally obtain fidelity bonds.Also called a surety bond.
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