Fidelity & Crime
Schedule Bond
A fidelity bond that lists the people it covers by name, each with its own coverage amount, to protect an employer against theft or dishonesty.
- Required by
- Employers, organizations, and some government rules for people who handle funds
- Bond amount
- Set by whoever requires the bond. We confirm it.
What this bond guarantees
The bond protects the employer or organization (the obligee) against loss from dishonest acts by each named person, up to the amount listed for that person. A claim arises when a listed employee steals or embezzles.
Who needs it
- Small businesses bonding specific employees
- Associations and unions bonding named officers
- Public bodies bonding named officials
What the underwriter looks at
- Number of people and amount for each
- Internal financial controls
- Loss history
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
What happens when a listed employee leaves?
The new person is not covered until you add them by name. That is the main drawback compared with a position schedule bond, which covers whoever holds the job.
Is a schedule bond the same as a blanket bond?
No. A blanket bond covers all employees under one limit; a schedule bond covers only those listed.