What Are the Key Differences Between Insureon and Travelers Fidelity Bonds?
ERISA Plan Protection or Broad Small-Business Listing
Travelers specifically describes ERISA fidelity insurance as protecting an employee benefit plan against losses from fraud or dishonesty by people who handle plan funds, including theft, embezzlement and forgery. It lists ERISA fidelity in both management-liability and surety offerings. Insureon instead presents fidelity bonds to small businesses and describes employee-dishonesty losses involving clients or other parties, without naming a plan-specific product in its listing. A plan sponsor can start with Travelers’ defined ERISA scope; a buyer with a broader employee or client-property exposure should ask Insureon which bond form its quote represents. [3] [4] [1]
How the Buyer Enters the Market
Travelers says ERISA fidelity is purchased through an independent agent, while Insureon provides an online quote request from its small-business bond catalog. Neither route alone establishes a bound policy or the final form. For a retirement plan, the agent can help connect the specific plan exposure to Travelers’ ERISA product; an Insureon applicant should confirm the surety and whether the resulting form satisfies the plan’s required bonding scope. [4] [1]
What Should You Confirm in Insureon and Travelers Fidelity Bonds Quotes?
- Ask Travelers’ agent to confirm the plan, fund handlers and amount included in the ERISA proposal; ask Insureon whether its quote is an ERISA fidelity bond or another employee-dishonesty form. [3] [1]
- Compare the named surety, covered acts and claim trigger in both documents, since Insureon’s overview does not supply policy wording. [4] [1]