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Commercial Fidelity Bonding Services
Taxonomy Code: ND-1600.2000-150
Business insurance policies issued by casualty insurance companies that protect employers from loss of money or property due to employee dishonesty. The bond covers all dishonest acts, such as larceny, theft, embezzlement, forgery, misappropriation, wrongful abstraction, or willful misapplication, whether employees act alone or as a team. Businesses often bond their employees not only because the insurance will pay for the losses, but also because the bonding company may prevent losses by uncovering dishonesty in the work history of a new employee.