What Are the Key Differences Between Heffernan Insurance Brokers and Zurich U.S. Fidelity Bonds?
Buyer and bond type
Heffernan arranges an Employee Dishonesty Bond for home-care agencies and a fidelity or financial-institution bond for family offices and financial firms. Zurich’s Express and Select products are ERISA fidelity bonds for benefit plans: Express addresses one straightforward plan and Select multiple or complex plans. A home-care agency or family office should ask Heffernan which bond meets its contractual or operational need; a plan sponsor can compare Zurich’s tracks to the plan’s structure. The names alone do not establish matching coverage triggers. [3] [7]
Coverage details to request
Heffernan’s reviewed pages identify the products and audiences but do not describe their insuring agreements, exclusions, or claim triggers. Zurich says its ERISA bond covers direct loss of money, securities, or property caused by employee fraud or dishonesty and may include designated agents or independent contractors in its employee definition. Buyers therefore have more specific covered-loss information in Zurich’s record, while a Heffernan placement requires the proposed form to answer those questions. [2] [7]