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Facts about Fidelity Bonds

07/27/10
  1. The U.S. Commerce Department estimates the annual cost of employee theft at ten times that of street crime.

  2. Most companies don't know they have an internal theft problem, and make the discovery by accident.

  3. It is estimated that employee theft causes 20% of all business failures.

  4. A survey reported that 1/3 of all retail, health care, and manufacturing employees admitted stealing from employers.

  5. Losses due to employee theft for businesses under $100,000 in annual sales are over 3 times higher than those with over $5 million in sales.

  6. ERISA now requires a maximum of $1,000,000 bond for any ERISA plans that hold securities issued by an employer (or by an affiliate of the employer) of the employees covered by the plan.

  7. Inventory shortages are not covered by most employee dishonesty bonds.

  8. Many employee dishonesty bonds require that the employee be convicted of the crime before they will reimburse the employer.


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Effective October 1st, 2012, the State of Maryland will begin requiring all mopeds and motor scooters, regardless of engine size, that are operated on public highways to be titled and registered by the Maryland MVA as well as requiring all operators and passenger to wear protective headgear and specified eyewear.  Owners of these vehicles will also be required to purchase and maintain the appropriate insurance.  Contact us today for a no obligation quote for insuring your Scooter, Moped, Motorcycle, ATV or any other motorized vehicle.
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Employment Practices Liability


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Just like public companies, private companies and their directors and officers are vulnerable to lawsuits. According to a recent CHUBB study, the average loss (settlement, judgement, and legal costs) was $225,682. To find out more about D&O Liability coverage click here

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