Fidelity Bond Compliance
Fidelity Bonds protect policyholders and businesses from dishonest behavior by employees or officers.
In addition to the bond IDOI needs a Fidelity Bond Cancellation Rider.
The amount of the bond is determined by the formula included in the NAIC Examiners Handbook.
The cancellation rider is a form for IDOI that illustrates in writing the bonding company and insured must notify IDOI upon cancellation of the bond.
To complete a Cancellation Rider form you will need to know and provide the information below on the Cancellation Rider form in the following order:
- Company or corporation being insured (shown on the declaration page of the fidelity bond).
- Fidelity bond number
- The carrier's name
- Date
- Amount of fidelity bond
- The name of the company being insured - not the corporation name (if the corporation name must be in this blank, the company name must be under it) i.e.: XYZ Corp. is the parent or corporate name (from blank #1) and ABC Ins. Co. is a subsidiary and the company Indiana would be concerned with for coverage. ABC Ins. Co. would go in the seventh blank.
- All signatures must be original, even if the rider itself is a copy.
Download the Fidelity Bond Cancellation Rider.
If you have any questions, please contact:
Kathleen Mathis
317-232-1991
kmathis@idoi.in.gov.
Return Cancellation Rider to:
Kathleen J. Mathis
Indiana Department of Insurance
311 West Washington Street, Suite 300
Indianapolis, Indiana 46204-2787
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