Faithful Performance Bonds

Blanket Fidelity/Crime Bond

The Blanket Fidelity/Crime Bond is a Commonwealth insurance program that covers acts of employee dishonesty. Employee dishonesty is considered to be a criminal act committed by an employee acting alone or in collusion with others. There must be a manifest intent by the employee (a) to cause the Commonwealth to sustain a loss and (b) to obtain a financial benefit for the employee or someone the employee seeks to benefitCoverage protects against loss of money, securities, as well as property other than money and securities. Coverage for dishonest acts applies to all officials and employees of the University. In the event theft or fraud is suspected, University Police must be notified.  In turn, State Police will investigate the matter.  To activate the bond, State Police must name the probable culprit (an employee). 

Comprehensive Come Bond

The Commonwealth’s crime program covers the University’s loss of money, securities, or checks by actual destruction, disappearance, forgery, or wrongful abstraction (robbery or theft), either on premises or in transit. There is a $1,000 deductible per claim, which is the responsibility of the department incurring the loss. Notify University Police within 24 hours of discovering a loss.