On-Line Employee Theft Bond Quote Form
An employee dishonesty bonds assist to cover the client and the business owners from the financial losses caused by employee theft.
Employee theft bonds come under the fidelity bond category of surety bonds. These bonds help protect an employer from any financial loss they may have to bear which has been caused by any unlawful act committed by any employee. Such unlawful acts may include embezzlement, damage to property, theft, misusing client’s confidential information, forgery, etc.
Call us at 952-469-0425 or complete our short Minnesota employee theft bond information form and we will be in touch soon.
There are a few options employers have which are-
- Blanket Position Bond: Offers blanket protection covering employees of a specific group like cashiers or bookkeepers
- Primary Commercial Blanket Bond: Offers employees blanket protection from misdeeds committed by any and every employee irrespective of his/her nature of work
- Name Schedule Bond: Provides employers protection from misdeeds by certain individuals which may be the company’s chief financial officer or accountant
Call us for your Minnesota theft bond right away on 952-469-0425. Or else you can directly apply online on our website.
Who Needs Employee Theft Bonds?
If you are a business owner with employees, sadly, you are always at the risk of suffering a major loss resulting from a criminal act committed by any employee. Studies carried out recently have shown that one out of every three employees has committed theft in the last 12 months.
The American Society of Employers reveals that as much as 5% of revenues are lost by business owners to employee thefts (source). It’s also the reason why about a third of all businesses fail. Embezzlement alone can cause a business a median loss of around $100,000. Not all businesses can absorb losses of such a scale. Employee theft bonds benefit such businesses greatly.
How Do This Employee Theft/Dishonesty Bonds Work?
These bonds are more like insurance policies rather than most surety bonds as obtaining them is the employer’s discretion entirely. The surety company will clear payments for claims that are valid and it won’t expect any reimbursements.
If preliminary background verification shows any criminal record, that particular person may not be considered bondable. Every surety company may have its own parameters to decide who can’t be considered bondable.
Before filling the claim, an employer must first file criminal charges when he realizes that any of his/her employees have committed a crime causing the company a financial loss. Do note here that some employee theft bonds come with a conviction clause. It implies that the claim won’t be settled until the employee has been convicted for his/her crime.
How Much Do These Bonds Cost?
There are no strict pricing guidelines for this type of bond. Certain factors are taken into account by the surety companies which include-
- number of employees that need to be bonded
- the business size
- the bond amount
- the industry the company belongs to
What are you waiting for, take the next step now by calling us at 952-469-0425! We also offer free quotations on Employee Theft Bond insurance.
Let Suretybondsmn.com help you with the Employee Theft bond requirements. Don’t guess; let us guide you step by step through this process.
Feel free to call our bond professionals at 952-469-0425, or drop an email to info@insuringminnesota.com and we will be more than happy to answer your questions. Do yourself a favor and give us a try today.
