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Financial institutions bond
This financial institution bond is issued to protect
the financial institution from physical and financial
losses. This bond is highly required by the state, municipalities,
central and federal government. This bond aim at providing
complete inclusive coverage to the employees and also
for those invested. It assists in protecting institution
from over increasing of fraud. It also cover losses
incurred due to computer system, transfer of funds,
facsimile instruction. For this bond the principal is
also required to provide the surety bond. For each separate
surety bond, the amount varies. In the financial institution
surety bond application fill your required amount to
get the surety bond. It protects the insurer from loss
incurred to the public.
This bond covers the following.
- Loss occurred due to the dishonesty or fraudulent
acts of an employee either committed alone or in a
group.
- Loss caused by the messenger of the financial institution
while in transit.
- Loss caused due to theft, misplacement and damage.
- Loss due to forgery or fraudulent act made by the
employee in instruments like bill of exchange, deposits
and withdrawals.
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