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What is the difference between a fidelity bond and commercial crime insurance?
Wiki User
∙ 13y ago
A fidelity bond insures banks for losses involving crime, employee dishonesty, etc. Commercial crime coverage insures businesses for losses due to crimes. A fidelity bond is specific to banks, which typically are required to have such bonds. A loss due a bad loan would not be covered under a fidelity bond, but a loss due to loan supported by fraudulent documents might be covered under the bond.
Wiki User
∙ 13y ago
A fidelity bond is a type of insurance that protects a company from losses due to employee dishonesty, while commercial crime insurance is broader and covers a wider range of criminal activities such as theft, fraud, and forgery committed by employees or third parties. Fidelity bonds generally only cover employee dishonesty, while commercial crime insurance can cover a variety of criminal acts that may occur in a business.
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