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fidelity bonds

ERISA Fidelity Bond and a KSOP

An ERISA fidelity bond, with few exceptions, is required by federal law (ERISA) for the protection of plan assets from the dishonest acts of plan trustees. An Employee Stock Ownership Plan (ESOP) is not generally an exception. A hybrid of… Continue Reading →

DOL Prosecutes Plan without ERISA Bond ~ Chao v. Snyder & Snyder Farm Supply, Inc.

We’ve been reporting for years that there is a great deal of non-compliance with ERISA bond requirements. Our advice has always been that regardless of your plan size, number of participants or your opinion about exemptions for your plan, it… Continue Reading →

ERISA Fidelity Bond Inflation Guard ~ What it is and Why it Matters

Fling an ERISA bond is a fiduciary duty required by the Employee Retirement Income Security Act of 1974 (ERISA), with few exceptions. The bond must be issued by a surety company that appears on the U.S. Treasury’s circular of insurers acceptable… Continue Reading →

A Business Services Bond Gives Third Party Fidelity Bond Protection

A business services bond is a type of commercial crime coverage, sometimes referred to as a dishonesty bond which is narrowly written to cover the third party perils of specific types of businesses. Many professional and occupational service providers conduct… Continue Reading →

Internal Controls Are a Fidelity Bond Must

A fidelity bond, also known as a commercial crime policy provides excellent protection to business and government entities that employ persons with money or other things of value under their control. Fidelity bond underwriting largely focuses on the implementation of… Continue Reading →

Fidelity Bond for Credit Unions (NCUA Rule Change)

Many financial institutions must comply with fidelity bond requirements. Both corporation credit unions and natural person credit unions are no exception. A new Rule recently adopted by The National Credit Union Association made some changes to the fidelity bond instruments that… Continue Reading →

Fidelity Bond Could Have Covered $3mn Dishonesty Loss

A fidelity bond (commercial crime coverage) is generally an inexpensive insurance protection when unexpected losses occur due to employee theft. A recent case example was reported by Matthew LeBlanc of the Journal Gazette. “An Auburn man, his sister and her… Continue Reading →

What Is a Financial Institution Bond

“Formerly known as a bankers blanket bond, and sometimes referred to as a fidelity bond, the financial institution bond as it is commonly known, is simply an insurance policy.  Though the term “insurance policy” does not typically appear in its… Continue Reading →

ERISA Fidelity Bonds for 2016

As we begin the new year, many enterprises are establishing or reviewing their pension, 401(K) and defined benefit plans. Surety One, Inc. would like to remind you that U.S. Codes, ERISA section 412 and related regulations (29 C.F.R. § 2550.412-1… Continue Reading →

Colorado Community Association Managers Must Provide Fidelity Bond / Commercial Crime Coverage

Colorado CAM Fidelity Insurance






ERISA Bond Obligation, DOL

ERISA Fidelity Bonds






Fidelity Bond, the Importance of Internal Controls

The most important fidelity bond underwriting consideration is the presence and strength of “internal controls”. A sound system of internal controls is an essential element of enterprise risk management. Every company with any significant employee dishonesty exposures should have formal internal control policies… Continue Reading →

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