Summary of Coverages
FEATURES OF EMPLOYEE DISHONESTY/COMMERCIAL CRIME COVERAGE
Provided by Capitol Indemnity Corporation
Fidelity bonding guarantees the principal’s or insured’s honesty, hence the term Employee Dishonesty Bond. Employee dishonesty coverage provides protection for employee theft of client’s money, securities or property. In the situation of a repossession company performing services on the behalf of a lien holder, the bond would provide coverage if a repossession agency didn’t turn over funds collected by an employee on a lender’s behalf.
Bond coverage is not extended to include cash money claimed to have been left in debtors’ vehicles, if an agency is holding vehicles due to non-payment of invoices, or if an employee steals from the repossession company itself.
