Protecting Yourself and Your Customers

This bond provides protection against financial liability for the loss of a customer's money, securities, and personal property caused by dishonest acts of the employees of the insured while on the customer's premises upon conviction. (Indictment, North Carolina only.) Limits for this coverage range from a minimum of $2,500 to a maximum of $100,000. Some of the more frequently requested bonds are for contractors, temporary employment agencies, home health care, janitorial and security guard services.

Here are examples of what could happen.

• You have a cleaning service. An employee, while working in an office, notices some valuables in a drawer. After finishing work, the employee puts the valuables in his pocket and leaves.
• You are a subcontractor. On the job site, your employee notices some electronic equipment he could use. When no one is looking, he puts it in a box and takes it out to his truck.

Protection for you

An Old Republic Business Services Bond will provide you with protection against financial liability for the loss of your customer's money, securities, and personal property caused by dishonest acts of your employees while on your customer's premises upon conviction (*) (**). A standard fidelity bond affords no protection for such exposures.

* In order to protect you and your employees against unjustified allegations of dishonesty, the employee must be convicted of the alleged dishonesty before coverage would apply.

** North Carolina only: The word "conviction/convicted" is replaced with "indictment/indicted."

A Competitive Advantage

Beyond protection from liability for employee dishonesty, having an Old Republic Business Services Bond can give you an important advantage over your competitors. Being able to say, "Our people will be bonded for honesty while on your job" could make a difference in whether a job comes to you or goes to someone else.

Many firms utilize the Business Services Bond as a marketing tool. They see the bond as giving them an advantage many of their competitors do not have and make prominent mention of the bond in their advertisements and proposals.

Limits of Coverage

Limits ranging from a $2,500 minimum to a $100,000 maximum per occurrence are available.

Premiums

The cost of this protection is very reasonable. Your premium is determined by the number of your firm's employees and the limit of coverage desired. Coverage may also be obtained on sole proprietors, partners, or officers of a corporation.

For your convenience, bonds may be written on a three year term at a discounted rate.

Note:

This contains only a brief summary of coverage and bond provisions. All statements herein are subject to the provisions, exclusions and conditions of the bond form.

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