Fidelity Bond Coverage

Fidelity Bond (Crime Insurance) provides coverage to mortgage broker owners for mortgage fraud and theft by employees and therefore should be considered by firms with one employee or over a thousand.

Fidelity Insurance covers losses from dishonest or fraudulent acts committed by a borrower or an employee (including temps) intending to obtain improper personal financial gain and to cause loss to the mortgage broker. Coverage also includes acts of the attorneys and loan closing agents retained to perform services in connection to a real estate loan.

Other coverage’s including:

• Fraudulent mortgages

• Forged checks and documents

• Theft of mortgage investor’s money or collateral

• Computer crime

• Indemnification basis

• Definition of insured includes past and present directors, officers and employees

• Retroactive coverage available

• Automatic coverage for newly established offices

• Option for the reinstatement of coverage limits (must be ordered at time of binding policy)

IMPORTANT DISCLAIMER – This product summary is intended to highlight features that may be of interest and should in no way be considered to accurately summarize the available insurance coverage.

Fidelity Bond and Errors and Omissions Insurance are sold as a bundle.

Dominion Insurance Services, Inc.