Fidelity insurance covers losses due to criminal acts such as fraud or theft by employees, directors, principals, partners, a property Mgmt company, or anyone else colluding with an employee. The loss can be of savings or goods and the coverage may be required in respect of one employee or a group of employees. Fannie Mae and the Federal Housing Administration (FHA) require an Employee Dishonesty limit equal to or greater than 100% reserve funds plus three months of operating income to cover.
Contact us to provide you with the amount of Crime coverage needed for your association as this number can change annually.