Fidelity Bond Program Update - July 2006
To our Valued Agents:
Thank you for the continued support you have given us over the past 5 years. We have had great growth over the years, and we look forward to continuing to service you in the future.
We are excited to share with you some news regarding our Bond Program. The current policy we provide through St. Paul Travelers is being enhanced, and as a result we will be re-writing our existing Fidelity bonds onto the new Wrap+sm policy. Some features of the new policy include:
- Coverage for Employee Theft, Forgery or Alteration, theft of money, securities or other property, Computer Fraud and Funds Transfer Fraud.
- Discovery Based policy trigger (provides uninterrupted coverage that reaches back across organizational history, regardless of prior policy structure)
- Broad definition of Employee
- Coverage available for the Property Manager
What does a new policy mean to you?
Beginning with October 1, 2006 Fidelity Bond renewals:
1. Based upon your state renewal requirements, we will be sending you, our agents, the required non renewal notifications for the old policy along with the re-written renewal policy.
2. Due to state regulatory requirements, we will then be sending written notification to all insured’s advising them that their current policy is going to be cancelled and re-written.
Our goal is to make this transition as smooth as possible and provide you with the information you need prior to the insured’s receiving the notice.
Please call your underwriter if you have any questions.
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Los Angeles
800 West 6th Street
Los Angeles, CA 90017
877 807-8708 |
Tampa
3450 Buschwood Park Drive, Suite 110
Tampa, FL 33618
813 888-5200 |
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