Fidelity Bonding Program
Is the lack of bonding coverage keeping you from working or from hiring someone?
WE CAN HELP!
The Fidelity Bonding Program is administered by the Alaska Department of Labor and Workforce Development, Employment Security Division. It is designed to alleviate employer concerns about hiring at-risk job applicants.
Who is considered "at-risk"?
- Ex-offenders, including anyone with a record of arrest, conviction or imprisonment, and anyone who has ever been on probation or parole
- Ex-addicts (persons with a history of alcohol or drug abuse)
- Persons having a poor credit record or who have declared bankruptcy
- Economically disadvantaged persons who lack a work history
- Individuals who were dishonorably discharged from the military
- Others who experience a barrier to gaining employment due to their personal background.
How Bonds can help
- Employers receive insurance free-of-charge as an incentive to hire hard-to-place job applicants.
- The insurance reimburses the employer for any loss due to employee theft of money or property.
- There is no deductible amount (i.e., 100% bond insurance coverage).
- No forms or other paperwork for the employer to sign
- No processing to delay matters. The insurance can be put into effect almost instantly.
- Employment Security Division staff complete the one page form
- Insurance applies to full/part-time employees paid wages with federal taxes automatically deducted from their wages
- Insurance covers employee dishonesty that occurs on or away from the employer's work facility.
* Self-employed persons cannot be covered by these Fidelity Bonds.