Navigating tomorrowā€™s global climate risks today
Experts agree that some climate change is inevitable. Leading businesses are taking action now to identify and mitigate these longer-term risks.
The Employee Retirement Income Security Act of 1974 (ERISA) requires that every fiduciary of an employee benefit plan, and every person who handles funds or other property of such a plan, hold minimum coverage to protect plan participants and beneficiaries from theft and fraud. Pensions, 401(k) plans, deferred-compensation plans and flexible spending accounts are all types of plans that may fall under ERISA. The Department of Laborā€™s Employee Benefits Security Administration, the Treasury Department's Internal Revenue Service, and the Pension Benefit Guaranty Corporation are responsible for oversight and enforcement of ERISA.
To add a Zurich ERISA Fidelity Bond to your customers’ portfolio, contact your Specialty Crime Underwriter or send an email to usz.erisa.bonds@zurichna.com
Zurich’s approach to the underwriting and issuance of ERISA Fidelity Bonds takes two tracks, giving customers flexibility they need for their organization’s needs and compliance requirements:
Features:
Additional coverages include:
When to use:
Features:
When to use:
Zurichā€™s fit-for-purpose ERISA Fidelity Bonds provide coverage for loss of or damage to money, securities or property resulting directly from fraud or dishonest acts committed by an employee. These bonds comply with ERISA Section 412. Additionally, the bond provides broadly defined employee language that can include designated agents/independent contractors.
Zurichā€™s ERISA bond is underwritten by Zurich American Insurance Company (ZAIC) and carries the A.M. Best & Co. financial strength of Zurich (A+/Stable).*
Zurichā€™s ERISA Fidelity Bonds are now available for new business and renewals (in approved states).
Who needs an ERISA Fidelity Bond?
How do ERISA Fidelity Bonds work?
What does an ERISA Fidelity Bond cover?
Experts agree that some climate change is inevitable. Leading businesses are taking action now to identify and mitigate these longer-term risks.
The 2024 SAMA Excellence Award recognizes Zurichā€™s global customer relationship management as outstanding, not only in the insurance sector, but across industries. Itā€™s the second win for Zurich.
Zurich North America and WTW co-sponsor first-of-its-kind Risk, Growth, and Resilience Summit with Executives' Club of Chicago, featuring Ann Chai, Jane Rheem and Jarrett Kolthoff.
*Rating as of January 31, 2023. A.M. Best and S&P Global financial strength ratings are under continuous review and subject to change and/or affirmation. The rating represents the overall financial status of the individual member companies of Zurich in North America, including Zurich American Insurance Company, and is not a recommendation of the specific policy provisions, rates or practices of each issuing insurance company.
Disclaimer
This is intended as a general description of certain types of insurance and services available to qualified customers through the companies of Zurich in North America, provided solely for informational purposes. Nothing herein should be construed as a solicitation, offer, advice, recommendation or any other service with regard to any type of insurance product underwritten by individual member companies of Zurich in North America, including Zurich American Insurance Company, 1299 Zurich Way, Schaumburg, IL 60196. Your policy is the contract that specifically and fully describes your coverage, terms and conditions. The description of the policy provisions gives a broad overview of coverages and does not revise or amend the policy. Coverages and rates are subject to individual insured meeting our underwriting qualifications and product availability in applicable states. Some coverages may be written on a non-admitted basis through licensed surplus lines brokers. Coverage is subject to the terms and conditions of the bond, as issued.