Topic
Fidelity Bonds
20 published works
Wiley Executive Summary
Neither Bond Nor E&O Policy Covers Entity Losses from Employee Theft of Client Funds
Applying Michigan law, the United States District Court for the Eastern District of Michigan has held that a fidelity bond did not provide coverage for an employee’s theft of client…
Risk and Recovery
Bank Bond Covers Third-Party Losses Arising out of Bank Employee’s Fraud, Eighth Circuit Holds
By Shawn S. Ledingham Jr., Proskauer Labor and Employment Department
Fidelity bonds are purchased primarily to protect against loss to the policyholder’s own assets, from things like employee theft or embezzlement. In Avon State Bank v. BancInsure, Inc., however, the…
Wiley Executive Summary
Notice-Prejudice Rule Does Not Apply to Fidelity Bonds
In an unpublished decision applying Colorado law, a federal district court has held that an insurer does not need to establish prejudice in order to deny coverage under a fidelity…
Wiley Executive Summary
Fidelity Bond Provides Coverage for Third-Party Claim Arising from Employee’s Fraud
Applying Minnesota law, the United States Court of Appeals for the Eighth Circuit has held that a bank’s fidelity bond provides coverage for claims by third-parties alleging that a bank…
Colorado Homeowners Association Law
CAI Reports FHA Backing Away From Management Company Insurance Mandate
According to Community Associations Institute ("CAI"), the Federal Housing Administration is evidently backing off a new requirement that management companies carry a fidelity bond on any condominium association they manage that would cover an…
Corporate & Financial Weekly Digest
SEC Approves Rule Governing Fidelity Bonds
Co-authored by Natalya S. Zelensky The Securities and Exchange Commission has approved the Financial Industry Regulatory Authority's proposal to adopt a rule governing fidelity bonds. FINRA Rule 4360 is based…
The D&O Diary
FDIC’s Receivership Rights Don’t Bar Fidelity Bond Rescission
The FDIC in its status as receiver of a failed bank may not avoid rescission of a fidelity bond procured by material misrepresentation, notwithstanding the FDIC’s statutory receiver rights, according…
The Retirement Plan Blog
It’s Bond. Fidelity Bond … revisited
By Jerry Kalish
Whether your preference is Sean Connery, George Lazenby, Roger Moore, Timothy Dalton, Pierce Brosnan, or now Daniel Craig, the James Bond character has been used in the longest running and…
The Retirement Plan Blog
Will Form 5500s reveal outdated fidelity bonds or retirement plans without bonds at all
By Jerry Kalish
July 31st, is of course, the due date (unless extended) for calendar year retirement plans required to file Form 5500 for the 2007 plan year. And, as in the past,…
The Retirement Plan Blog
It’s Bond. Fidelity Bond
By Jerry Kalish
One of those year-end retirement plan housekeeping matters is for plan sponsors to review the adequacy of the plan's fidelity bond required by Department of Labor (DoL) regulations. Here is…