Financial Institution Bond Insurance
What is financial institution bond insurance?
Financial institution bond (FI bond) insurance, also known as a fidelity bond, is designed to help protect financial institutions against a variety of fraudulent risks, including losses from employee dishonesty, such as theft or forgery, as well as certain external perils.
Why is an FI bond important?
- Provides protection against employee dishonesty: Helps cover losses from theft, forgery and embezzlement by employees.
- Helps protect against multiple fraudulent risks: Robbery, burglary, in-transit theft, forgery, computer fraud as well as many more.
- Reduces financial risks: Safeguards assets handled daily, improving financial stability.
- Maintains customer trust: Demonstrates a commitment to protecting customers' assets, enhancing credibility.
- Assists with regulatory compliance: FI bonds are often required by law, ensuring alignment with regulatory standards.
- Offers peace of mind: Helps provide financial protection when the insured’s safeguards fail.
FI bond insurance is critical coverage to help protect financial institutions from both internal and external fraud, ensure compliance and maintain trust.
Travelers knows financial institution bond insurance.
Applications and forms for agents
Access all management and professional liability applications, as well as the surety bond forms library.
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