Labor organizations that seek fidelity bond or commercial crime coverage carry a distinct set of risks, have traditionally been prone to claims. Standard surety companies generally avoid this class of insurance. We offer a specialty labor union fidelity bond program which may be written on a blanket or additional schedule bases, to wit:
Schedule A Coverage
Schedule A provides coverage on Employees which include any officer whether elected or appointed, and any natural person while acting for or on behalf of the Insured as dues collector, shop steward or shop chairman, whether or not any such officer or person is compensated by the Insured and any natural person (except a director or trustee of the Insured, if a corporation, who is not also an officer or employee thereof in some other capacity) while in the regular service of the Insured in the ordinary course of the union’s business and whom the union compensates by salary, wages or commissions and has the right to govern and direct in the performance of such service, but does not mean any broker, factor, commission merchant, consignee, contractor or other agent or representative of the same general character.
Schedule B Coverage
We offer excess Indemnity for positions occupied by natural persons covered under Schedule A.
Schedule C Coverage
We offer bonding of any natural person who, or partnership or corporation which, is an independent contractor and is duly appointed by the Applicant to act as its agent in any designated capacity.
National surety bond leader, Surety One, Inc. is a specialist in the bonding needs of broker dealers, financial advisers and the financial services sector. We offer both surety and fidelity bonds needed by these professionals in ALL fifty states, Puerto Rico and the U.S. Virgin Islands. Questions about this license bond? Call us at (800) 373-2804, email us at Underwriting@SuretyOne.com or click here for live chat.
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