Blanket Dishonesty and Forgery Bonds for the Office of the Commissioner of Insurance and the Injured Patients and Families Compensation Fund

The Wisconsin Blanket Dishonesty and Forgery Bonds multi-award vehicle provides comprehensive insurance and bonding coverage for state agencies, specifically designed to protect the Office of the Commissioner of Insurance and the Injured Patients and Families Compensation Fund against financial losses from employee misconduct or fraudulent activities. The contract covers multiple bond types including blanket dishonesty bonds, forgery bonds, commercial surety bonds, and fidelity guarantee insurance, with specific coverage tailored to each agency's risk profile and financial exposure.

The contract was awarded by the Wisconsin Department of Administration in September 2017, with Schwarz Insurance Agency, Inc. serving as the primary contractor and Hanover Insurance Company providing the actual bond coverage. The initial three-year contract period ran from September 1, 2017, through September 1, 2020, with a total prepaid premium of $3,790. The vehicle provides varying levels of protection, including a $500,000 blanket dishonesty bond with $5,000 deductible for the Office of the Commissioner of Insurance and a $1,000,000 blanket dishonesty bond with $10,000 deductible for the Injured Patients and Families Compensation Fund, demonstrating a state-specific approach to risk management and insurance procurement.