Is a Fidelity Bond?

A fidelity bond is a form of insurance protection that covers policyholders for losses that they incur as a result of fraudulent acts by specified individuals. It usually insures a business for losses caused by the dishonest acts of its employees.

Is a fidelity bond the same as crime insurance?

The simplest answer to this question is that fidelity bonds and crime insurance are basically the same things. ... Fidelity bonds are simply a type of crime insurance product that protects businesses from specific fraudulent acts.

What types of fidelity bonds are there?

There are two types of fidelity bonds: first-party bonds (which protect companies from harmful acts by employees or clients) and third-party bonds (which protect companies from the harmful acts of contracted workers).