What Are the Key Differences Between CNA and Zurich U.S. Fidelity Bonds?
Broad bond categories and Zurich’s ERISA tracks
CNA lists dishonesty, janitorial-services, blanket, scheduled and pension-trust (ERISA) bonds ([1]). Zurich distinguishes Express for a single non-union plan with straightforward needs from Select for multiple or complex plans ([5]). Zurich says Express limits reach $1 million for fraud or dishonesty and that Select offers higher limits and optional coverage. Confirm the plan structure and approved-state availability before choosing a track.
Loss and employee definition
Zurich describes direct loss of money, securities or property caused by employee fraud or dishonesty and says designated agents or independent contractors may fit its employee definition ([5]). CNA describes fidelity bonds as protection for businesses and their customers from employee-dishonesty losses ([1]). For plans using outside administrators, check Zurich’s issued definition and compare each proposal’s covered property, limit and obligee.
What Should You Confirm in CNA and Zurich U.S. Fidelity Bonds Quotes?
- Is Zurich Express available for your single non-union plan in your state, or does the plan structure call for Select?
- Which CNA form and Zurich employee definition cover your plan handlers, contractors and property?