Fidelity Bonds for Financial Institutions

This policy provides the protection required by Banking and Financial Institutions while being flexible enough to handle tomorrow's needs. The protection provided is against losses caused by employees and external crime committed by third parties. The Financial Institution Bond is a pure financial loss insurance product, which provides balance sheet protection. Coverages are provided in the following areas:

Employee Fidelity - covers losses resulting from dishonest and fraudulent acts committed by employees. On Premises Loss - covers losses from robbery, burglary, misplacement, mysterious, disappearance, damage or destruction of property. Loss of Property in Transit - covers property stolen while in the care of a bank employee or in the custody of a transportation company. Forgery or Alteration - covers forgery or unauthorized changes to securities or negotiable instruments. Currency Coverage - covers losses due to receipt of counterfeit currency issued by any country where the institution maintains a branch office. The financial institution bond may be expanded to include other exposures such as unauthorized trading losses and breaches of computer system security. Following are some selected policy and coverage highlights:

Automatic Teller Machines Stop Payment Legal Liability Transit Cash Letter Computer System Security Electronic Data Processing Customer Profile

Financial Institutions including:
Bank Holding Companies Commercial Banks Building Societies Insurance and Reinsurance Companies Electronic Data Processing organizations Stockbrokers Mutual Funds and Advisors ,Finance Companies ,Mortgage Companies,Credit Unions Clearing Houses.