Beazley vs Coverdash: Fidelity Bonds

Beazley insures Financial Fidelity Bonds for financial institutions and lists dedicated bond applications. Coverdash brokers fidelity bonds through outside carriers and provides a digital quote-to-purchase path.

Van Ness Partners presents a practical comparison of source materials relevant to financial crime exposures.Research updated 2026-09-25

What Are the Key Differences Between Beazley and Coverdash Fidelity Bonds?

Who Issues the Bond Versus Who Places It

Beazley underwrites Financial Fidelity Bonds for financial institutions, as a line it keeps separate from Commercial Crime on the same page. Coverdash arranges fidelity bonds as a broker and lists them as one of four bond types on a surety page, not as a dedicated product. On a Beazley quote Beazley is the writer; on a Coverdash quote the reviewed sources do not name the carrier. Choose Beazley if you are a financial institution that wants the writer on the bond; choose Coverdash if you want a brokered employee-dishonesty bond you can start digitally. [1] [2] [3]

What Each Page Says the Bond Covers

Beazley describes protection from loss of money and securities caused by employee theft, plus third-party-related losses such as forgery, on-premises and in-transit loss, money-order and counterfeit-currency fraud, computer fraud, client-property loss, credit-card fraud and related expenses. Coverdash’s surety card describes fidelity in a single line as protecting clients against loss from employee dishonesty, with no insuring-agreement list. A Beazley buyer can read an institution-crime menu before applying; a Coverdash buyer cannot tell from the public card whether the form is first-party, third-party or ERISA. [1] [2]

$25 Million Headline Versus Digital Purchase With No Published Amount

Beazley advertises limits of up to US $25,000,000 for this line and lists FI Bond Form 14, Form 15, Form 24 and Form 25, separate from Commercial Crime applications. Coverdash describes a fully digital quote-to-purchase process on the surety page that includes fidelity among its bond types, and does not publish bond-amount figures. Beazley’s page does not describe an online self-service purchase. You fill Beazley’s institution forms; you click through Coverdash’s surety flow. [1] [2]

What Should You Confirm in Beazley and Coverdash Fidelity Bonds Quotes?

  • Ask Beazley which FI bond form (14, 15, 24 or 25) applies and whether the $25 million figure is the maximum on your quote. [1]
  • Ask Coverdash which carrier issues the bond and whether it is first-party, third-party or ERISA, which the surety card does not specify. [2]
  • Confirm whether Beazley’s fraudulent-instruction wording, labeled for Commercial Crime on the reviewed page, applies to the fidelity bond. [1]
  • Get the written bond penalty and retention from both; Coverdash publishes none and Beazley does not break out retentions. [1] [2]

Crime coverage

Beazley

  • role: Beazley underwrites Financial Fidelity Bonds, which it markets specifically to financial institutions, as a separate line from the Commercial Crime product it sells to ordinary commercial companies on the same page. Crime and Fidelity product page; "fidelity bonds" is the name the page uses for the financial-institution version of this crime coverage.company-reportedSource ↗
  • eligibility: Beazley says its expert team underwrites Financial Fidelity Bonds for financial institutions. The page does not name which types of financial institution (e.g., banks, credit unions, broker-dealers) qualify. Product-page target-customer statement; no institution-type list or asset-size threshold is published.company-reportedSource ↗
  • coverage: Beazley describes fidelity bonds as protecting a financial institution from loss of money and securities caused by employee theft, plus third-party-related losses such as forgery or alteration, on-premises and in-transit loss, money-order and counterfeit-currency fraud, computer fraud, client-property loss, credit-card fraud and related expenses. Product page's general description of crime/fidelity coverage; the page does not itemize a separate insuring-agreement list for fidelity bonds versus Commercial Crime.company-reportedSource ↗
  • coverage: The reviewed page attributes its fraudulent-instruction (social-engineering) insuring agreement and out-of-band-authentication condition to "our Commercial Crime policy" specifically. It does not state that Financial Fidelity Bonds include this same insuring agreement. Checked against the full product page text as of 2026-09-23; absence of a fidelity-bond-specific statement is not evidence the coverage is unavailable to financial institutions.not-foundSource ↗
  • limits: The product page advertises limits of up to US $25,000,000 for this line without separately breaking out a fidelity-bond-specific maximum from the Commercial Crime figure on the same page. Shared headline limit figure; retentions and bond-specific sub-limits are not published.company-reportedSource ↗
  • application: Beazley lists dedicated Financial Institution bond application forms in its Tools & Resources: FI Bond Form 14, Form 15, Form 24 and Form 25, separate from the Commercial Crime application forms on the same page. Tools & Resources section of the product page; the page does not describe an online quote or self-service purchase flow.company-reportedSource ↗
  • services: Beazley says its underwriting and claims professionals for this product family work side by side so that the original underwriting intent is respected when a claim arises. Company-stated internal process description applying to the Crime and Fidelity product family generally; no fidelity-bond-specific service is separately described.company-reportedSource ↗
  • claims: The product page links to Beazley's general claim-notification channel for this line. It does not disclose a claims response-time commitment or a dedicated claims process specific to Financial Fidelity Bonds. Product page "Notify a Claim" link as read on 2026-09-23; response times were not found.not-disclosedSource ↗

Coverdash

  • role: Coverdash arranges fidelity bonds as a broker rather than an insurer, placing coverage with a carrier under its standard brokerage terms. General brokerage terms applied to the fidelity-bonds card on the surety-bond page; not specific to any one carrier or state.company-reportedSource ↗Source ↗
  • coverage: Coverdash's surety-bond page describes fidelity bonds in a single line as protecting clients against loss from employee dishonesty; it does not have a dedicated fidelity-bond product page. One catalog card on the surety-bond page, not a full product description. Fidelity bonds are a distinct crime-type coverage rather than a three-party surety guarantee, even though Coverdash lists them on the same page as its surety bonds.company-reportedSource ↗
  • insurer: The surety-bond page does not name the insurer that issues fidelity bonds. Reviewed surety-bond page as of 2026-09-23; the page describes coverage without naming a specific carrier.not-disclosedSource ↗
  • eligibility: The surety-bond page's eligibility description (contractors, licensed trades and businesses bidding on contracts) is written for surety bonds generally and does not separately describe who needs a fidelity bond specifically. Page-level eligibility text is shared across all four bond types on the page; it was not written specifically for employee-dishonesty coverage.not-foundSource ↗
  • limits: The surety-bond page does not publish specific limit or bond-amount figures for fidelity bonds. Reviewed surety-bond page as of 2026-09-23; figures are quote-specific and not shown on the public page.not-disclosedSource ↗
  • application: Coverdash describes a fully digital quote-to-purchase process on its surety-bond page, which includes the fidelity-bond option among its four bond types. Product-page company information and cross-sell section.company-reportedSource ↗

Beazley underwrites Financial Fidelity Bonds for financial institutions, with advertised limits up to $25 million. Coverdash brokers an employee-dishonesty bond from a digital surety catalog and does not name the issuer.

Sources consulted

  1. 01
    Crime and Fidelity

    Beazley · What we offer: Financial Fidelity Bonds for financial institutions; Limits up to US $25,000,000; How can we help; Tools & Resources FI Bond application forms · accessed 2026-09-23

  2. 02
    Surety Bonds

    Coverdash · Types of Coverage card 04, Fidelity bonds: "Protect clients against loss from employee dishonesty" · accessed 2026-09-23

  3. 03
    Terms And Conditions

    Coverdash · "Coverdash does not provide any underwriting services"; broker/agent of record designation · accessed 2026-09-23

  4. 04
    Glossary of Insurance Terms

    National Association of Insurance Commissioners · Fidelity; Surety Bond · accessed 2026-09-16

  5. 05
    Crime Terms and Conditions

    Travelers Casualty and Surety Company of America · I.A.1–3 p.1; III.S pp.8–9; V.B.1–2 pp.18–20; CRI consideration p.1; III.P p.8; V.A.3 pp.16–17; V.A.4 p.17; V.B.3 p.20; IV.L p.15 · accessed 2026-09-16

  6. 06
    Field Assistance Bulletin No. 2008-04: Guidance Regarding ERISA Fidelity Bonding Requirements

    U.S. Department of Labor, Employee Benefits Security Administration · Q1–Q3 pp.2–3; Q2 pp.2–3 · accessed 2026-09-16

Contact Van Ness Partners to discuss controls, exposures and insurance options.

Contact Van Ness Partners