What is the Definition of Fidelity Bond?

What is the Definition of Fidelity Bond?

A form of 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.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

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What is the Definition of Fidelity Bond?

What is the Definition of Fidelity Bond?

You can find random definition and meaning of insurance terms below:


Meaning of Reduced Paid-Up Insurance Option in Insurance Terms

One of several nonforfeiture options included in life insurance policies that allows the owner of a policy with cash values to discontinue premium payments and to use the policy’s net cash value to purchase paid-up insurance of the same plan as the original policy. (See Nonforfeiture options)


Meaning of Registered Principal in Insurance Terms

An officer or manager of a National Association of Securities Dealers (NASD) member, who is involved in the day-to-day operation of the securities business, has qualified as a registered representative, and has an NASD Series 24 or 26 registration.


Meaning of Registered Representative in Insurance Terms

A sales representative or other person who has registered with the National Association of Securities Dealers (NASD), disclosed the  required background information, and passed one or more NASD examination. A registered representative engages in the securities business on behalf of a NASD member by soliciting the sale of securities or training securities salespeople.


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