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Santosh (Advocate)     24 November 2011

Fidelity bond

Could you please explain regarding fidelity bond. I will be greatful if you could post a outline or format of fidelity bond.



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 2 Replies

N.K.Assumi (Advocate)     24 November 2011

Love is always there, some Love too much and some Love too many, that is the format of present global relationship. No need for a Fidelity relationship bond format.

sridhar pasumarthy (ADVOCATE)     24 November 2011

Dear Santosh,

 

fidelity bond is a form of insurance protection that covers policyholders for losses that they incur as a result of fraudulent acts by specified individuals. It usually insures a business for losses caused by the dishonest acts of its employees.

While called bonds, these obligations to protect an employer from employee-dishonesty losses are really insurance policies.[1] These insurance policies protect from losses of company monies, securities, and other property from employees who have a manifest intent to cause the company loss. There are also many other forms of crime-insurance policies (burglaryfire, general theft, computer theft, disappearance, fraud, forgery, etc.) to protect company assets.

 

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