Fidelity Bond
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At a Glance
Broker-dealers are required to carry a Fidelity Bond to protect their
assets. Most firms rely on the Securities Dealer Blanket Bond offered by Seabury
& Smith. Here’s why:
- Designed specifically for broker-dealer firms.
- Discounts for new clients and for two-year prepaid bonds (for limits up to $500,000).
- Limit applies to each and every loss (unlike the Form 14 Broker-Dealer Fidelity Bond which has an annual aggregate cap on covered losses).
- Policy includes coverage for Registered Representatives.
- Defense cost for covered losses is in addition to the limit of liability.
- Bond can provide coverage for your in-house pension and profit sharing plan
at no additional cost to your firm.
NEW! Valuable Fidelity Bond enhancements now available:
- Registered Representative Amendatory Endorsement (RRAE) — Enhances the Fidelity Bond by broadening the firm’s coverage for “selling away” activity by its Registered Representatives (i.e.: fraudulent activities affecting clients of a Registered Representative who are not customers of the broker-dealer firm).*
- Corporate Identity Protection (CIP) — Responds to a data breach involving personal, identifiable information. Coverage may be available for defense costs in response to any claim, suit or administrative action; and notification costs, crisis expenses and post-event services, such as credit monitoring for affected individuals.*
- Personal Identity Coverage (PIC) — Responds to one of the fastest growing crimes in America, by offering expert assistance and financial relief should a covered individual become a victim of identity theft.*
- Fidelity Research and Investigative Settlement Clause (FRISC) — A unique provision that allows you to select an investigative specialist and forensic accountant from a preset list to determine the facts of a claim and quantify the loss. FRISC sets the stage for an efficient loss investigation and settlement process that can significantly save time and money. This valuable new enhancement is an automatic coverage.
- Computer Hacker Coverage — Provides coverage for malicious destruction of, or damage to, electronic data or computer programs. This valuable new enhancement is also an automatic coverage.
To apply for RRAE, CIP and PIC coverage, please call 1-800-978-6273 and speak with a Seabury & Smith Insurance Specialist.
Not sure if you’re eligible for the Securities Dealer Blanket Bond? Click the link above to see the requirements. Firms that do not meet the eligibility requirements of the Securities Dealer Blanket Bond are eligible for the Form 14 Broker-Dealer Fidelity Bond which also meets SEC requirements.
Click the link above for features of the Securities Dealer Blanket Bond.
Click the above link for features of the Form 14 Broker-Dealer Fidelity Bond.
Apply for or renew your Fidelity Bond online here, or click the above link for instructions on how to apply for your Fidelity Bond by email, fax or mail.
AR Ins. Lic. #245544
CA Ins. Lic. #0633005
d/b/a in CA Seabury & Smith Insurance Program Management
AR Ins. Lic. #245544
CA Ins. Lic. #0633005
d/b/a in CA Seabury & Smith Insurance Program Management
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