Blanket Employees Dishonesty Bond for the Department of Safety and Professional Services

The Blanket Employees Dishonesty Bond for the Department of Safety and Professional Services is a specialized insurance contract designed to provide comprehensive financial protection against potential employee theft and fraudulent activities. The vehicle covers multiple types of surety and fidelity bonds, including commercial surety bonds, contract surety bonds, and fidelity guarantee insurance. Specifically, the contract offers $500,000 per occurrence coverage with a $5,000 deductible, protecting against employee dishonesty across three distinct employee classification levels: 33 Class 1 employees who constantly handle money, 8 Class 2 employees who occasionally handle money, and 206.14 Class 3 employees who do not handle money.

The contract is administered by the Wisconsin Department of Administration and was awarded to Schwarz Insurance, with Hanover Insurance Company serving as the insuring entity. The vehicle was initially established on January 18, 2017, with a three-year performance period running through January 18, 2020. The total contract value is $1,947, with an annual premium of $649, and it encompasses statewide coverage for the Wisconsin government. This contract represents a renewal and replacement of a previous agreement from January 13, 2014, demonstrating a consistent approach to managing employee dishonesty risk for state agencies.