Fidelity & Surety
Representation of Fidelity and Fiduciary Carriers and Businesses
The attorneys at Montgomery Barnett, LLP have represented fidelity and
fiduciary insurance carriers in complex coverage matters, including bank
fraud, embezzlement claims, fraudulent documentation issues, employee
fraud and third party claims. Montgomery Barnett investigates the underlying
transactions, reviews the coverage language and provides its clients with
quality representation. Our attorneys are experienced in the handling
of payment and performance bond claims, private work claims and public
work claims. The firm's team works closely with clients in order to
ensure that they are well informed about their options.
Lawyers Helping to Protect Business Interests
Many business law issues can arise that can impact a company financially.
Whether due to employee misconduct, theft, or failure on the part of another
entity to complete a job, you may find your business in a difficult position
financially. Two kinds of insurance bonds can be used to protect your
company and yourself from significant losses in these kinds of situations.
The firm can assist you with the following types of insurance bonds:
- Fidelity bond - This insurance bond is designed to protect a company from
the misconduct of an employee. For example, if your employee steals from
you, your company's insurance may not cover the loss, however a fidelity
bond can ensure that your losses are recovered. These bonds can be created
as a general umbrella for all employees or for a specific individual employee.
- Surety bond - This type of bond protects a company from losses suffered
due to the incompletion of a job. For example, if you (the obligee) hire
a construction company (the principal) to complete a project on a building,
and the principal does not follow through, then the surety bond will require
a third party (the surety) to pay the difference so that the project may
be completed by another company.
The continued operation of your business is of the utmost importance, and
you need to be sure that you can protect your company from suffering severe
losses in circumstances involving third parties, contractors, and employees.
You may greatly benefit from obtaining either of these bonds depending
on your situation, type of business, and industry.