Employee frauds, theft or dishonesty is something that can happen to any business owner even with thorough screening and hawkeyed supervisory measures. The worst part about it is the losses that you are going to incur from such actions. You could lose money directly or indirectly from valuable items such as equipment and important data that get stolen. D’Agostino Agency Insurance provides fidelity bonds which are designed to cover your business when you experience employee theft.
As a business owner, you should consider a fidelity bond when you have employees trusted to handle cash, even if it is only one person. We have a number of fidelity bonds that are geared to suit the different needs of our clients.
Apart from covering your business against losses that may be brought about by fraud from your employees, your clients (more so those in the financial service sector) will have great concerns about the possibilities of your employees or contractors stealing from them while working on their premises. Their fears will be heightened when you are without a fidelity bond.
Also, most other insurance policies will not include a cover for intentional wrongful acts which will include employee theft and dishonesty, and that will be reason enough for you to get that fidelity bond or the commercial dishonest bond that offers this kind of coverage.
The business services bond is going to provide you with coverage against losses involving money, supplies, personal effects and equipment belonging to your customers that will have been brought about by the dishonest acts of some of your employees. For businesses like house and dog sitter agencies, construction contractors, fixtures/repair services and so on, this kind of fidelity bond will be a very good choice. It will also help your business stand out among competition.
For protection against financial losses inside your business caused by the fraudulent activities of your employees, the standard employee dishonesty bond is the right choice. The losses inside your business may come about as a result of one or more of your employees stealing money, equipment, securities and other valuable items. Most businesses, including professional offices and nonprofit organizations, will benefit from this type of bond.
According to the 1974 Security Act for Employee Retirement Income, it is mandatory for the trustees of pension funds to have a fidelity bond cover equivalent to the minimum of 10% of the total assets of the plan. The ERISA bond is set to protect participants and beneficiaries of the plan from dishonest and fraudulent acts of the fiduciary handling the pension or benefit plans.
Do you worry that your business might become liable when one of your employees steals from a client? Well, you are not going to have such worries once your business is covered through a fidelity bond. A third party fidelity bond from us will give you peace of mind with a coverage that is going to deal with allegations of employee fraud and theft. Call D’Agostino Agency Insurance today for a free quote, and worry no more.