What type of Fidelity Bond covers a named individual?

The type of Fidelity Bond that specifically covers a named individual is known as an Individual bond. This bond provides coverage on a unique, specified person within an organization, protecting against losses due to theft, fraud, or dishonesty committed by that individual. The focus here is on the particular person's actions rather than encompassing a group or multiple individuals.

In contrast, other types of bonds serve different purposes. A Blanket bond offers coverage for all employees without naming them individually, while a Schedule bond is designed to cover specific positions or roles rather than specific individuals. A Group bond, on the other hand, typically covers a group of employees whose identities may not be specifically listed but fall under the same category of risk. Understanding these distinctions is essential for choosing the appropriate fidelity coverage based on the needs of the organization.