Bonding

Bonding Plus covers losses related to employee dishonesty, forgery, alteration, and theft of funds. It’s structured specifically for nonprofit groups where multiple people may handle money throughout the year.

An “employee” under this policy includes elected officers, committee chairs (elected or appointed), and any member acting as a volunteer. This flexible definition ensures the people handling your money are covered.

Bonding Plus includes three separate types of coverage:

• Employee Dishonesty – Covers theft or fraud committed by members, officers, or volunteers.
• Forgery or Alteration – Covers losses from forged checks or altered financial documents.
• Theft, Disappearance & Destruction – Covers loss of money or securities inside or outside the premises, including while stored in a home or being transported by a messenger.

Available across all 50 states, Bonding Plus lasts one calendar year from your selected start date. A one-year discovery period is also included after the policy ends—providing protection for losses identified after expiration if the act occurred during the policy term.

Like all financial policies, Bonding Plus includes some standard exclusions. These include:

• Losses only proven by inventory or profit/loss calculations
• Accounting or math errors
• Money lost in vending or amusement machines
• Losses from scrip sales (e.g. supermarket gift cards)
• Dishonest employees already known to be involved in prior incidents (discovery voids future coverage)

Bonding insurance, also known as employee crime insurance, protects your nonprofit from financial loss due to theft, fraud, embezzlement, or forgery committed by individuals handling your organization’s money. It’s designed to safeguard your funds, especially when multiple people have access to cash, checks, or financial records.

Coverage includes losses from employee dishonesty, forged checks, altered financial documents, and the theft or disappearance of funds, whether inside your office or while in transit. It applies to both cash and securities used for your organization’s operations.

The policy covers individuals who manage or have access to your organization’s funds, including board members, officers, committee leads, and volunteers acting on behalf of your nonprofit.

Yes. The policy includes coverage for theft or disappearance of funds that occurs off-site, such as in a volunteer’s home or while money is being transported to or from an event or bank. This reflects the way many nonprofits handle funds in real-world situations.

Yes. Bonding Plus is available in all 50 states.

Coverage lasts for one full year from your selected policy start date. The policy also includes a one-year discovery period, allowing your organization to report a loss up to 12 months after the policy ends, as long as the loss occurred during the active policy term.

While our bonding coverage is among the broadest available, there are exclusions common to this type of crime insurance. The following is a summary only and does not alter or replace the actual policy language.

There is no coverage, or coverage is excluded, for:

• Losses where proof depends solely on an inventory or profit and loss calculation
• Losses caused by accounting or arithmetic errors or omissions
• Losses involving money in coin-operated vending machines or amusement devices
• Losses from the use or sale of supermarket scrip or similar forms of prepaid vouchers
• Cancellation of coverage for a specific individual: Coverage for any employee is canceled immediately upon discovery by the organization, an officer, or a director of any dishonest act committed by that individual, either before or after they became affiliated with the organization. Coverage is also excluded for anyone who has been excluded under similar prior insurance.