Man	I heard fidelity bonds can help protect my business. Can you explain exactly what they are?
JW	Of course! Fidelity bonds are insurance that protect against employee dishonesty such as theft and property damage. However, there are different types of fidelity bonds that provide different kinds of protection.
Man	As a business owner, I want to protect myself from employee embezzlement. Which type of fidelity bond will protect me?
JW	An employee dishonesty bond will protect you from dishonest employees who may commit theft, burglary, forgery and embezzlement.
Man	Our business often requires us to go to our clients homes. Does an employee dishonesty bond protect my customers too?
JW	No. You will need a different type of fidelity bond called a business service bond. A business service bond protects your client's personal property from loss and damage that may be caused by your employees.
Man	Are there any other types of fidelity bonds I should know about?
JW	Yes. The last type is ERISA bonds. They are required by law to protect employee benefit plans like 401Ks from fraudulent plan managers.
Man	How are fidelity bond rates determined?
JW	Costs are based on your type of business, the dollar amount of coverage you need, and the number of employees included on the bond.
Man	That all makes sense! I'll apply on online and get the bonds I need to protect my company and clients.
JW	I like the way you think.

What is a Fidelity Bond?

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