Fidelity Bonds
AMBA is the exclusive MGA for AIG to protect a broker dealer from dishonest, fraudulent acts and thus help protect its balance sheet.
Broker Dealer Fidelity Bonds indemnifies the employer for loss of money or other insured property sustained through dishonest acts of employees or third parties. Covered acts typically include larceny, theft, embezzlement, forgery, misappropriation, or other fraudulent activity committed by employees or third parties.
A typical Fidelity Bond for Broker Dealer consist of multiple Insuring Agreements that include:
Fidelity, On Premises, In Transit, Forgery or Alteration Securities, and Counterfeit Currency.
Expand Your Product Portfolio
These bonds, brokers can cater to a wide range of clients, including investment advisers, financial institutions, and businesses that require such coverage to safeguard their assets and maintain regulatory compliance.
Meet Regulatory Requirements
Certain industries and regulatory bodies mandate the procurement of fidelity bonds. By providing these bonds, you can assist clients in meeting their legal obligations, thereby positioning yourself as an essential partner in your clients' compliance strategies.
Enhance Client Trust and Confidence
Demonstrate your commitment to comprehensive risk management solutions. Clients are more likely to trust brokers who proactively address potential internal risks, such as employee dishonesty. This trust can lead to stronger client relationships and increased client retention.
Increase Revenue Streams
Fidelity bonds represent an additional product line that can contribute to your revenue. By cross-selling fidelity bonds to existing clients, or introducing them to new markets, you can tap into new income sources without significant additional effort.
Partnership with an established provider
AMBA is a managing general agent for AIG and with that offers exclusive access to a best in class fidelity bond for Broker Dealers.
Stay Competitive in the Market
In a competitive landscape, offering a comprehensive suite of products, including fidelity bonds, can differentiate you from your competitors. Clients seeking one-stop solutions for their insurance needs are more likely to choose brokers who can provide a full spectrum of coverage options.