Blanket Employees Dishonesty Bond for the Department of Revenue

The Wisconsin Blanket Employees Dishonesty Bond multi-award vehicle provides comprehensive fidelity and surety bond coverage specifically for the Department of Revenue. This vehicle enables the procurement of employee dishonesty insurance that protects against financial losses resulting from potential fraudulent actions by state employees. The contract covers multiple employee classifications, including 1,024 Class 1 & 2 employees who handle money and 168 Class 3 employees who do not handle monetary resources, with a broad range of surety and fidelity insurance products categorized under UNSPSC codes related to commercial surety bonds, contract surety bonds, and fidelity guarantee insurance.

The contract is awarded by the Wisconsin Department of Administration, with Schwarz Insurance Agency, Inc. serving as the prime contractor and The Hanover Insurance Company as the insurer. The current contract provides $1,000,000 per occurrence coverage with a $10,000 deductible, and was executed on August 6, 2019, with an annual premium of $2,015. The performance period runs from September 1, 2019, through September 1, 2020, representing a one-year agreement that replaced a previous similar contract. This state-wide contract is specifically scoped for Wisconsin government entities, focusing on mitigating potential financial risks associated with employee dishonesty within state revenue operations.