Topic
Fidelity Bonds
20 published works
Pro Policyholder
Parent Company Beware: Subsidiaries’ Fidelity Bond Claims May Belong to FDIC in Receivership
By Alexander Bein, Shelby Guilbert, Nicholas Hill
In March 2023, we wrote about the failure of Silicon Valley Bank (“SVB”) and potential implications of its takeover by the Federal Deposit Insurance Company (“FDIC”). As we noted then,…
Zalma on Insurance
Fidelity Bond Only Covers Damage to the Insured
By Barry Zalma
Cheating Third Party Customers of Insured is not Covered by a Fidelity Bond Federal Insurance Company (“Federal”) issued a Financial Institution Bond (the “Bond”) to COR Clearing LLC (“COR”), a…
Zalma on Insurance
Theft of Salary Specifically Excluded
By Barry Zalma
Not Every Employee Theft is Covered by a Fidelity Bond An Illinois appellate court was asked whether an employer can recover for an employee’s wage theft under the terms of…
The Retirement Plan Blog
In the era of electronic enforcement, fidelity bond issues easily revealed on Form 5500
By Jerry Kalish
The July 31 due date (unless extended) to file Form 5500 for 2017 calendar year ERISA plans is creeping up on us. And if history be our guide, there will…
All Things ERISA
Typically Confusing: The Fidelity Bond vs. Fiduciary Insurance
By Jewell Lim Esposito, Esq.
The Retirement Plan Blog
Will 2016 Form 5500 reveal outdated fidelity bonds or none at all?
By Jerry Kalish
The 2016 Form 5500 deadline has come and gone for calendar year taxpayers, and a number of them revealed outdated fidelity bonds or retirement plans without bonds at all. The fidelity bond…
Wiley Executive Summary
Washington Court Finds Coverage for Fraudulently Originated Loans Repurchased by Now-Defunct Bank
A Washington federal court has denied an insurer’s motion for summary judgment regarding coverage under a fidelity bond issued to a now-defunct bank for losses incurred in connection with fraudulently…
The D&O Diary
Fidelity Bond Rescission Denied Where Application Signatory Was Embezzling Credit Union’s Funds
Material misrepresentations in an insurance application can serve as the basis for rescission of the resulting policy. A recent federal district court decision examined the question of whether or not…
The D&O Diary
Guest Post: Fidelity Bonds and Cybercrime Insurance: 2016 First Quarter Update
[caption id="attachment_11957" align="alignleft" width="123"] David Bergenfeld[/caption] In the following guest post, David Bergenfeld, a Senior Associate in D’Amato & Lynch, LLP’s Fidelity Bond Practice Group, takes a look at key…
The D&O Diary
Guest Post: Fidelity Bonds and Cybercrime Policies: 2015 Year in Review
[caption id="attachment_11760" align="alignleft" width="189"] David Bergenfeld[/caption] [caption id="attachment_11761" align="alignleft" width="189"] Laura Lang[/caption] This past year was a very eventful one in the world of fidelity bond, commercial crime, and cybercrime…