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Frequently Asked Questions & Research Reports

What’s the difference between fidelity and surety?
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Ohio Crime Insurance Fidelity Surety

Fidelity protects against loss from the dishonest or fraudulent acts of employees.  Surety refers to the activity of bonding a person or persons. A surety bond provides for monetary compensation if the bonded person or organization fails to perform in a correct manner. Bonds are very common. Regular bonding is required of some firms such as contractors. There are fiduciary bonds, license bonds, and permit bonds among others.

Tip. The most trusted employee may turn to crime. How? Under the pressure of family money draining illness or serious money problems

Crime may not pay, but insurance does. Make sure you have the protection you and your business need to continue operating after the unthinkable happens.

ISO and the Surety Association of America (SAA) both offer fidelity protection against employee criminal acts. We'll use ISO's crime program as a basis here.

Do I Need A Separate Crime Policy?

Your business needs crime insurance if:

    • its property insurance doesn't offer crime coverage.
    • a significant amount of money or securities passes through its hands.
    • any employees have the opportunity to steal large amounts of money or valuable property.

While technology has certainly made some aspects of our lives easier, unfortunately, it’s also made it easier for thieves to transfer money out of our accounts.  In today’s world, it’s nearly impossible to find a business that’s not at risk, and in need of a crime policy.

If you’d like to learn more, contact one of our Licensed Advisors or complete the form above.  We’re here to help.

To continue learning about your insurance protection, return to our Resource Center.

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