A fidelity bond (also called employee dishonesty insurance) provides coverage for loss resulting directly from employee dishonesty. Fidelity bonds are for any company that has employees.
Old Republic Surety Company offers fidelity bond coverage up to $250,000.
Most property and casualty packages include a crime policy that offers the same kind of coverage. However, because it is often bundled into a package, it may not be enough to cover the employee base or risk that your company faces. Have a conversation with your independent agent about whether the crime coverage in your property & casualty package is enough for your business. A fidelity bond could give you the extra coverage that you need. You may also consider fidelity bonds for specific individuals in your company - those more likely to have access to funds, bank accounts etc.
* In order to protect you and your employees against unjustifiable allegations or charges 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."