ERISA Policy - Virginia — required surety bond in Federal. Apply online in minutes.
An ERISA fidelity bond is a specific type of surety policy designed to protect employee benefit plans from losses caused by acts of fraud or dishonesty. It guarantees that plan participants and beneficiaries are safeguarded against the theft or misappropriation of funds by those who manage the plan's assets.
This bond is typically required for individuals who act as fiduciaries or who directly handle funds for employee benefit plans, such as 401(k) or pension programs. Business owners, plan administrators, and trustees overseeing these plans must secure this coverage to protect the assets.
The federal government requires this bond to ensure that retirement and health plan funds are protected from mismanagement, embezzlement, or theft by plan officials. By mandating this coverage, the obligee ensures a layer of financial security exists for the employees relying on these benefit plans.
To get your bond, simply click Apply Now to complete our secure, approximately 5-minute online application. Once approved, your bond will be delivered by email so you can quickly file it with the appropriate parties. For nationwide assistance, call Noah Insurance Agency at 814-718-0060.
Premiums vary based on the specific coverage amount needed and other underwriting factors. Please apply online with Noah Insurance Agency or call us at 814-718-0060 for an exact figure.
Coverage requirements vary depending on the total assets of your employee benefit plan. You should verify the exact figures and requirements for your specific plan with the Department of Labor or your legal advisor.
No, an ERISA bond protects the plan itself against fraud and dishonesty by those handling the funds, while fiduciary liability insurance protects the fiduciaries against claims of breached duties.
Approval times can vary depending on your specific application details and underwriting requirements. Please complete our secure online application for the most accurate timeline.
Send us a note or call 814-718-0060 — a licensed agent will confirm the bond amount and requirements for you.
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