Defining Fidelity Bond Coverage

Law360, New York (January 16, 2009, 12:00 AM EST) -- Businesses today rely on insurance coverage as a way to manage risk and guarantee their ability to survive sometimes catastrophic loss.

A common component of this coverage is the fidelity bond — a specialized form of insurance designed to protect against loss from crime.

Fidelity bonds can be further specialized by industry, such as with the Standard Form 24 Financial Institution Bond that combines various types of coverage to protect banks and other financial institutions.

The typical fidelity bond consists of insuring agreements that define the...
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