Fidelity Bond and Cyber Security Liability – Do you have the right coverage?

We wanted to help you understand the different insurance and why the broader Fidelity Bond coverage and Cyber Liability and Data Breach coverage should be considered.  I have summarized the following:

Fidelity Bond with all agreements extend to cover False Pretense, Phishing, Social Engineering, Hacking of bank account and Wire Transfer Fraud. Most policies only include the Employee Dishonesty coverage.  You should check your policy to verify you have all the agreements necessary for proper coverage:

  • Insuring Agreement 1: Employee Dishonesty
  • Insuring Agreement 2: Forgery or Alteration
  • Insuring Agreement 3: Theft, Disappearance and Destruction
  • Insuring Agreement 4: Computer Fraud and Wire Transfer Fraud

Cyber Liability extends to cover unauthorized use of technology, computer programs or misplaced Personally Identifiable Information (PII)and Media Liability.  The Data Breach Response Services include notification expenses of the data breach, credit monitoring expenses, restoration expenses, cyber extortion and ransomware, forensic expenses, compliance, and regulatory fees.

Contact our office for a complete review of your insurance and bonding needs.


Connie Phillips, CIC, EBP, CIRMS

Certified Insurance Counselor (CIC)

National Community Association Institute Educated Business Partner Distinction (“EBP”)

Community Insurance and Risk Management Specialist (“CIRMS”)