Fidelity & Crime
Blanket Fidelity Bond
A fidelity bond that protects an employer against theft or dishonesty by any of its employees, without naming individual people or positions.
- Required by
- Usually the employer's own choice; sometimes required by contracts, lenders, or regulators
- Bond amount
- Set by whoever requires the bond. We confirm it.
What this bond guarantees
The bond reimburses the employer (the insured) for loss of money, securities, or property caused by employee dishonesty, up to a limit per loss. Unlike individual or position bonds, it covers all employees under one limit. A claim follows discovery of a covered loss.
Who needs it
- Businesses whose employees handle cash or client property
- Employers required by a contract or regulator to bond all staff
- Financial firms and nonprofits
What the underwriter looks at
- Number of employees
- Internal controls such as dual signatures and audits
- Prior losses
- Limit requested
Requirements vary by state and by who asks for the bond. Send us the request you received and we will confirm exactly what it calls for.
Common questions
How is this different from a position bond?
A blanket bond covers all employees under one per-loss limit. A position schedule bond covers only the positions you list, each at its own amount.
Does it protect my customers?
Not directly. A first-party fidelity bond reimburses you. If customers need protection from your employees on their premises, look at a business service bond.