Under Position Schedule Bonds, which category is covered?

Position Schedule Bonds provide coverage for specific employees that are identified and listed on the bond schedule. This means that the bond is tailored to cover only those individuals explicitly named, rather than providing broad coverage for all employees or certain categories such as managerial or hourly workers. Each employee listed is typically associated with a certain position that requires a bond due to the nature of their responsibilities, which often include handling cash or other valuable assets.

The focus of this type of bond is on the individuals who have been recognized for their role and the trust that comes with it, making it essential to ensure that these specific employees are protected from the risks of dishonest acts. This targeted approach allows organizations to manage risk more effectively by identifying and covering those who are in positions of sensitivity regarding financial responsibilities.