A fidelity bond is a form of insurance protection that covers policyholders for losses that they incur as a result of fraudulent acts by specified individuals. It usually insures a business for losses caused by the dishonest acts of its employees.
While called bonds, these obligations to protect an employer from employee-dishonesty losses are really insurance policies. These insurance policies protect from losses of company monies, securities, and other property from employees who have a manifest intent to cause the company loss. There are also many other forms of crime-insurance policies (burglary, fire, general theft, computer theft, disappearance, fraud, forgery, etc.) to protect company assets.
Famous quotes containing the words fidelity and/or bond:
“Total loyalty is possible only when fidelity is emptied of all concrete content, from which changes of mind might naturally arise.”
—Hannah Arendt (1906–1975)
“The ideal of men and women sharing equally in parenting and working is a vision still. What would it be like if women and men were less different from each other, if our worlds were not so foreign? A male friend who shares daily parenting told me that he knows at his very core what his wife’s loving for their daughter feels like, and that this knowing creates a stronger bond between them.”
—Anonymous Mother. Ourselves and Our Children, by Boston Women’s Health Book Collective, ch. 6 (1978)