What Are the Key Differences Between Founder Shield and Heffernan Insurance Brokers Fidelity Bonds?
Benefit Plans or Industry-Specific Bond Types
Founder Shield places ERISA fidelity for plan sponsors, fiduciaries and third-party administrators, with bond amounts tied to plan funds handled. Heffernan names an Employee Dishonesty Bond for home-care agencies and a separate financial-institution bond for family offices and financial advisers. Choose Founder Shield if you need an ERISA plan bond; choose Heffernan if you need one of its home-care or family-office bond types. [2] [6] [5]
What Each Page Says Is Covered
Founder Shield lists theft and embezzlement of plan assets, forgery, misappropriation and larceny by those who handle plan funds, and restates ERISA’s 10% / $1,000–$500,000 (or $1 million with employer securities) bonding rule. Heffernan’s two pages name the products but do not describe insuring agreements, exclusions or claim triggers, and they do not publish a penalty amount. [2] [6] [5]
Carriers and How You Apply
Founder Shield says it places only with AM Best A- or better carriers matched by industry, and you request the bond through its website or an advisor. Heffernan’s reviewed pages do not name an underwriter for either bond and do not describe an application path beyond the specialty-practice listings. [3] [1] [6] [5]
What Should You Confirm in Founder Shield and Heffernan Insurance Brokers Fidelity Bonds Quotes?
- Ask Founder Shield for the issuing carrier, the bond penalty and whether the plan holds employer securities. [2] [3]
- Ask Heffernan which of the two listed products applies and whether an ERISA bond is needed in addition. [6] [5]
- Get covered positions and deductibles from both, since Heffernan publishes none and Founder Shield restates only the statutory floor. [2] [6]
- Confirm Heffernan’s claims path; its advocacy page does not describe fidelity-bond claims handling. [4]