What Is a Fidelity Bond?

If you've heard the term before but aren't quite sure what it is, a good fidelity bond definition would reference the fact that it's a kind of insurance which an employer can buy to protect a business against employee theft, embezzlement, and other losses which aren't normally covered by traditional insurance. This can be in the form of blanket insurance, which covers all employees equally, or insurance which applies to specific employees in positions where access is greater to company assets, e.g. bank accounts, intellectual property, etc.

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