Fidelity Bond

[Harley]

What is the difference between a surety form A bond and form B bond?

[Phillies]

Originally Posted by Harley

What is the difference between a surety form A bond and form B bond?

Classification of Business "A" is for professional and business offices such as accountants, architects, physicians, dentists, insurance agents and attorneys. Officers are not covered under this bond, unless the insured is a corporation, and the officers are in the regular service of the insured and cmpensated by salary, wages, etc.

This classification is also for Non-Profit Social Organizations for their officers only.

Classification of Business "B" is for businesses with more exposure such as cafes, gas stations, retail stores, businesses with salespeople, non-profit social organizations and courier services (except for those handling cash and negotiable instruments,

This classification contains a conviction clause which means that the only way the bond would pay a claim is if the individual is charged and convicted of the crime.