Public Adjuster Fidelity Bond
A public adjuster fidelity bond is an inexpensive way to protect both your business and your clients. This type of commercial crime coverage referred to as a "business services bond" or "dishonesty bond" offers broad coverage for the exposures of a public or independent adjuster. A third party fidelity bond is a coverage which insures against the dishonest acts of employees that provide services on the premises of a client and addresses those specific perils of public adjuster that may at times handle large monetary instruments that belong to insurance carriers and insureds. Employee theft from client businesses and residences is unfortunately common. History demonstrates that seventy five percent or more of retail and labor employees steal from their employers at least once and that those losses account for seventy percent or more of annual revenue. Is your business vulnerable to losses like these?
- A public adjuster was arrested by special agents in Georgia after allegedly stealing funds from consumers and a contractor and failing to show up for a hearing ("Georgia Public Adjuster Accused of Stealing More than $550K", Insurance Journal)
- A public adjuster in Delaware County was charged with insurance fraud and related offenses for allegedly stealing $722,000 from a manufacturer in the Bridesburg section of Philadelphia ("Delco insurance adjuster allegedly stole $722,000 from Northeast Philly manufacturer", The Phillie Voice)
- A public was charged with stealing more than $215,000 in insurance money from a Georgia business damaged by Hurricane Michael ("Public Adjuster Arrested on Charges of Stealing From Hurricane Victim", Claims Journal)
Proper background investigation and reference checks of public and independent adjusters is a good risk management tool. Even when the state department of insurance vets and licenses an adjuster, it is not possible to watch every agent at all times. One significant loss due to employee theft can erode an adjustment agency's profit or worse. A lawsuit against you and your firm can bankrupt you and cause irreparable reputation damage in the insurance industry. Given that employee theft is the cause of over a quarter of business failures, a temporary staffing service bond can mean the difference between losing your livelihood and running a profitable business.
National fidelity bond leader, Surety One, Inc., specializes in underwriting fidelity risks for ALL types of business risks. No background checks are required, and we NEVER turn away an applicant. Call (800) 373-2804, email Underwriting@SuretyOne.com or click here to discuss a public adjuster fidelity bond or surety bond need.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.
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