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Fidelity Bonds protect policyholders and businesses from dishonest behavior by employees or officers. The company is responsible for renewing the fidelity bond on the expiration date of the bond. It the bond is continuous, an email or letter must be sent notifying the Department the bond is still in force.
In addition to the bond IDOI needs a Fidelity Bond Cancellation Rider
The amount of the bond is determined by the formula included in the NAIC Examiners Handbook.
The cancellation rider is a form for IDOI that illustrates in writing the bonding company and insured must notify IDOI upon cancellation of the bond.
To complete a Cancellation Rider form you will need to know and provide the information below on the Cancellation Rider form in the following order:
If you have any questions, please contact:
Return Cancellation Rider to:
Kathleen J. Mathis
Indiana Department of Insurance
311 West Washington Street, Suite 300
Indianapolis, Indiana 46204-2787