Fidelity bond a insurance policy or a surety bond

[Question]

Is a Fidelity bond a insurance policy or a surety bond ?

I have heard people call it both which one is it

[Fidelity Bond Information]

Originally Posted by Question

Is a Fidelity bond a insurance policy or a surety bond ?

I have heard people call it both which one is it

A "Fidelity Bond" is another name for a Commercial Crime Policy. A "fidelity bond" is really industry jargon still used by some agents. Unlike a surety bond, a commercial crime policy would not normally contain an indemnity clause. If it it did the applicant would be responsible to pay the surety back the amount of the claim.

[Question]

Finally Fidelity Bonds make sense, so like insurance the client would just have to pay the deductible if they had a loss