CNA vs Foundershield: Fidelity Bonds

CNA describes fidelity protection against employee dishonesty and lists bond forms such as blanket, scheduled, and ERISA. Founder Shield brokers ERISA bonds for plan sponsors and fiduciaries, with statutory minimum amounts based on plan funds handled.

Van Ness Partners presents a practical comparison of source materials relevant to financial crime exposures.Research updated 2026-10-01

What Are the Key Differences Between CNA and Founder Shield Fidelity Bonds?

Commercial forms and ERISA plan bonds

CNA identifies dishonesty, janitorial, blanket, scheduled and pension-trust ERISA bonds, with protection for businesses and customers against employee dishonesty. Founder Shield’s reviewed offering is specifically an ERISA fidelity bond for plan sponsors, fiduciaries and third-party administrators handling plan assets. If your obligation comes from a retirement plan, ask both providers whether their quote is the statutory plan bond or another fidelity form. [1] [3]

What the statutory formula means

Founder Shield states the federal minimum as 10% of plan funds handled, with a $1,000 minimum and $500,000 maximum, rising to $1 million for plans holding employer securities; this is a statutory requirement, not its own policy limit. Founder Shield places the bond with third-party carriers. CNA lists ERISA among several forms but does not state the formula in its cited record. Compare the calculation with your plan’s assets and required amount. [3] [1]

What Should You Confirm in CNA and Founder Shield Fidelity Bonds Quotes?

  • Ask Founder Shield to identify the issuing carrier and confirm calculation base, plan assets and required amount. [4]
  • Ask CNA whether its pension-trust form satisfies your ERISA requirement and how the amount was calculated. [1]

Crime coverage

CNA

  • coverage: CNA describes fidelity bonds as protection for businesses and their customers against losses from employee dishonesty. Entity: CNA Surety offering; exact surety/issuer entity varies by bond/state Product: commercial fidelity bonds Jurisdiction: United States; exact state availability not specified on page Research source scope: Commercial/contract surety; US plus Canada/Puerto Rico Claim limitation: Company-reported description; bond form and terms govern.company-reportedSource ↗
  • coverage: CNA identifies dishonesty, janitorial-services, blanket, scheduled and pension-trust (ERISA) bonds in its fidelity portfolio. Entity: CNA Surety offering Product: commercial fidelity bonds Jurisdiction: United States Research source scope: Commercial/contract surety; US plus Canada/Puerto Rico Claim limitation: Product list does not publish limits, exclusions or eligibility.company-reportedSource ↗
  • services: CNA says experienced claims specialists help resolve surety and fidelity claims. Entity: CNA Surety offering Product: surety and fidelity claims services Jurisdiction: United States Research source scope: Commercial/contract surety; US plus Canada/Puerto Rico Claim limitation: Company description; no response-time or settlement-performance data disclosed.company-reportedSource ↗

Founder Shield

  • role: Founder Shield is a retail insurance brokerage, described on its site as “the innovation arm of The Baldwin Group,” and places Founder Shield ERISA Fidelity Bond with third-party carriers rather than underwriting the policy itself. About-us page; applies to Founder Shield's brokerage model generally, restated here for this line.company-reportedSource ↗
  • eligibility: Founder Shield says this bond is required for plan sponsors offering a retirement plan, the fiduciaries who manage it, third-party administrators, and even small businesses with a simple 401(k). ERISA Fidelity Bond product page.company-reportedSource ↗
  • coverage: Founder Shield lists theft and embezzlement of plan assets, forgery, misappropriation and larceny by those who handle a benefit plan's funds as what an ERISA fidelity bond covers. Product page; the issued bond and its terms control actual coverage.company-reportedSource ↗
  • limits: Founder Shield's page states the federal ERISA bonding requirement: at least 10% of plan funds handled, with a minimum bond of $1,000 and a maximum of $500,000 (up to $1 million for plans holding employer securities). This is the statutory minimum, not a Founder Shield-specific limit. Product page describing the ERISA statutory bonding requirement.company-reportedSource ↗
  • insurer: Founder Shield says it places policies, including Founder Shield ERISA Fidelity Bond, only with carriers rated A- or better by AM Best, chosen for the client's industry. It does not name the issuing insurer for this line; that depends on which carrier the policy is placed with. General carrier-selection FAQ, not specific to this line's placements.company-reportedSource ↗
  • application: You request Founder Shield ERISA Fidelity Bond through Founder Shield's website or an insurance advisor rather than binding coverage directly; Founder Shield says its placement team then approaches carriers on the client's behalf. About-us and carrier-selection pages describe the general placement process, not a line-specific application form.company-reportedSource ↗Source ↗

Founder Shield describes ERISA fidelity bonding and the federal minimum formula. CNA lists ERISA bonds alongside other fidelity forms.

Sources consulted

  1. 01
    CNA Surety - Surety and Fidelity Bonds | CNA Insurance

    CNA · Surety/fidelity product sections, geography, agents/brokers, bONdLINE and claims services · accessed 2026-09-28

  2. 02
    About Us

    Founder Shield · “Founder Shield is the innovation arm of The Baldwin Group”; company history and mission · accessed 2026-09-23

  3. 03
    ERISA Fidelity Bond

    Founder Shield · What Is ERISA Fidelity Bond Insurance?; Who Needs ERISA Fidelity Bond Insurance Coverage?; What Does ERISA Fidelity Bond Insurance Cover? · accessed 2026-09-23

  4. 04
    How Do You Decide Which Carriers to Approach?

    Founder Shield · FAQ answer on carrier selection: works exclusively with A-rated (AM Best) carriers, matched by industry appetite · accessed 2026-09-23

  5. 05
    Glossary of Insurance Terms

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

  6. 06
    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

  7. 07
    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