Click to add title Access Washington单击“添加标题访问华盛顿”.ppt

Washington State Bonding Program Brian Elvin * It is insurance to protect employers against employee dishonesty.  What is Fidelity Bonding? * To restore confidence in employers who view ex-offenders and other at-risk job seekers as potentially untrustworthy workers and thereby deny them employment To provide insurance for at-risk job seekers that other insurance companies will not insure It’s an incentive to the employer to hire an at risk job applicant It’s a unique tool for marketing applicants to employers Fidelity Bonding and why is it needed?? * Employer loss due to worker dishonesty on the job. Any type of stealing: theft, forgery, larceny, embezzlement.  Fidelity Bonding and what it DOES cover. * Fidelity Bonding and what it does NOT cover. Liability due to poor workmanship, job injuries, work accidents, etc. Bail bonds or court bonds needed in adjudication. Bonding needed for self-employment  * Who is eligible for Bonding? Ex-Offenders Recovering substance abusers (alcohol drugs) Welfare recipients Individuals with poor credit history Dishonorably discharged veterans Economically disadvantaged persons who lack a work history Anyone who cannot get a job without being bonded Anyone already employed but needs bonding in order to: prevent being laid off or secure a transfer or promotion  Who is NOT eligible for Bonding? * Individuals bondable through commercial carriers Individuals who have defaulted on a previous fidelity bond Individuals who are self-employed Individuals who are not of legal working age (Eligibility age is 14 years old (with limitations) in Washington State)  How are bonds issued? Bonds are issued in increments of $ 5,000 up to $ 25,000 In most cases a $ 5,000 bond is sufficient Bonds in the amount of $ 10,000 up to $ 25,000 have to be justified Bond amounts are based on how much potential loss an employer could incur * How do Bonds work? Bonds can be issued as soon as the employee has a hire date The coverage for