Bonds

Basics Fidelity Surety    
Introduction to Bond Claims
In this section we provide guidelines for the resolution of claims based on fidelity and surety bonds.

The guidelines include the specifics of investigation, including formats for obtaining statements.

Also, we present protocols for promptly resolving coverage issues.

Finally, ancillary investigation resources are presented.
Click A Case
What is covered dishonesty? .
Acadia Insurance Co. v. Keiser Industries
Maine Supreme Judicial Court
April 9, 2002 FIDELITY
A surety’s liability on the bond is commensurate with that of its principal.
National Technical Systems v. United Pacific Insurance Co.
California Court of Appeals
April 4, 2002 SURETY
Fidelity bond does not cover forgery. Because the financial institution bond purchased from defendant did not indemnify plaintiff's losses suffered as a result of a forgery scheme, district court's dismissal of the complaint for declaratory relief was proper.
First Insurance Funding Corp. v. Federal Insurance Co.
U. S. Seventh Circuit
March 28, 2002 FIDELITY
Coverage for employee dishonesty includes embezzlement.
Cincinnati Insurance Co. v. Tuscaloosa County Parking and Transit Authority
Alabama Supreme Court
February 26, 2002 FIDELITY
Substantial exemplary damages were awarded after a judge in the Superior Court concluded that the surety for the general contractor had willfully and knowingly violated G.L.C. 93A in the wake of a jury verdict against general on a breach of contract claim by one of its subcontractors. Exemplary damages upheld.
Massachusetts Supreme Judicial Court
September 6, 2001 SURETY/HANDLING
Under a crime and theft policy, an insured must report a potential loss to insurer when insured knows facts that would allow a prudent person to charge another with dishonesty, not merely facts to question one's honesty or knowledge of actual theft.
U.S. Ninth Circuit
August 7, 2001 FIDELITY
Thefts by two employees means two occurrences and allows for two separate claims under bond.
U.S. Fifth Circuit
May 24, 2001 FIDELITY
Surety for general contractor who retains rights in the subcontracts assumes obligation to arbitrate.
U.S. Eleventh Circuit
May 22, 2001 SURETY
Fidelity bond does not pay for theft by alter-ego owner of bonded corporation
New Jersey Supreme Court
December 12, 2000 FIDELITY BOND/COVERAGE
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