Fidelity Bonds

An ERISA Fidelity Bond protects the assets of employee retirement plans against losses caused by acts of fraud or dishonesty. Established under the Employee Retirement Income Security Act (ERISA) of 1974, these bonds serve as a safeguard for pension plans, ensuring that the funds and assets managed by plan sponsors are protected from potential misconduct by individuals who handle plan assets.

An Employee Dishonesty Bond is a fidelity bond that protects a business from financial loss caused by dishonest acts committed by its employees, such as theft, fraud, embezzlement, forgery, or misuse of company funds or property. If an employee steals money or assets while acting in the course of their employment, the bond helps reimburse the business for the loss.

A Janitorial & Home Service Bond is a type of fidelity bond that protects customers if a cleaning or home service worker steals property, commits fraud, or causes certain damages while working in a client’s home or business. It provides reassurance to customers that the service provider is trustworthy and financially accountable. These bonds are commonly required by clients, property managers, or licensing authorities and are especially important for businesses whose employees work inside private residences or commercial spaces.

A Service Provider Bond is commonly required for professions such as third-party administrators (TPAs), pension professionals, property managers, consultants, and other regulated service providers. In some cases—such as under ERISA—these bonds are required by law to protect the assets of employee benefit plans. The bond ensures accountability and provides financial recourse if the service provider violates legal or contractual obligations.