What Are the Key Differences Between Travelers and Zurich U.S. Fidelity Bonds?
Covered plan loss and handlers
Travelers says its ERISA fidelity insurance covers an employee benefit plan against losses caused by fraud or dishonesty, including theft, embezzlement, or forgery by people who handle plan funds. Zurich describes direct losses of money, securities, or property from employee fraud or dishonesty and may include designated agents or independent contractors in its employee definition. Plan sponsors should compare the named handler definitions and confirm whether administrators or contractors are insured under the selected form. [2] [6]
Quote access and plan structure
Travelers directs buyers to an independent agent and lists ERISA fidelity both among management-liability products and as a bond type. Zurich offers Express for a single straightforward plan and Select for multiple or complex plans, with higher limits and optional coverages. A sponsor can ask its Travelers agent for the bond limit and form, then compare Zurich’s plan tracks and available extensions. Neither high-level product description substitutes for confirming the required amount and current plan schedule. [3] [6]