Protect Your Business From Internal Risks
While many businesses focus on protecting against outside threats, losses can also come from within. Fidelity bonds help protect your business from financial losses caused by employee dishonesty, giving you added confidence as your company grows.
At Thompson-Hicks Insurance, we help businesses identify their internal exposures and find fidelity bond solutions tailored to their operations.
Why Do I Need a Fidelity Bond?
Commercial general liability insurance protects your business from many third-party claims, but it generally does not cover intentional theft or dishonest acts committed by your own employees.
A fidelity bond helps fill that gap by providing protection against covered losses resulting from employee dishonesty. Depending on your business, this may include standard Employee Dishonesty Bonds or specialized ERISA Bonds required for employee benefit plans such as 401(k)s.
Businesses That Benefit From Fidelity Bonds
Fidelity bonds are commonly recommended for businesses that:
- Handle client funds or sensitive information
- Work inside customers' homes or commercial properties
- Manage valuable inventory or equipment
- Sponsor employee retirement plans that require ERISA bonds
For service businesses like cleaning companies, HVAC contractors, and IT providers, being licensed, bonded, and insured can also help build trust with customers and provide greater confidence when employees are working on their property.
Protect Your Business With Confidence
Thompson-Hicks Insurance provides personalized guidance to help businesses protect their finances, reputation, and clients. Contact us today to learn more about fidelity bonds in Tyler, TX.