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Delaware bonds

Delaware — ERISA Bond

Use this Delaware ERISA bond page to choose a one-year or three-year RLI application. Confirm the plan's required amount before completing your selection with the provider.

Also known as Delaware ERISA Bond (1 Year); Delaware ERISA Bond (3 Years); Delaware ERISA Bonds

2 options on record. Choose the one that matches your requirement, then purchase.

How a fidelity bond works

Fidelity protection responds to covered dishonest acts. The form identifies whose money or property is protected, the covered persons, and the applicable limits.

Bond family
Fidelity bond
Recorded state
Delaware
Category
Fidelity & employee dishonesty
Federal programme authority
United States Department of Labor, Employee Benefits Security Administration

What this bond does

ERISA fidelity bonding protects an employee benefit plan from covered fraud or dishonesty losses involving its funds or other property.

Who needs it
Plan sponsors and administrators arranging required bonding for people handling ERISA-covered plan assets, unless an exemption applies.
Who is protected
The plan is insured against defined dishonest acts. This is separate from fiduciary liability insurance and ordinary business liability protection.

Choose from 2 options

Each option is a separate record. Where a term, bond amount, premium, or E&O limit is known, it is listed; match it to what your requirement asks for.

The coverage amount describes a limit of protection, not the price. Match the requested protection and covered persons to the actual fidelity form. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.

Use the plan's details in the application

Check that the plan is named or otherwise specifically identified as an insured party. An employer name alone should not replace that check. Include relevant employees, trustees and service providers when discussing who handles plan assets.

The Delaware association does not establish a state-specific ERISA requirement. Have your adviser determine the amount under the federal framework. The 36-month and 12-month options describe duration, with no amount stated on this page.

Sources

Have these ready

  1. Find the plan's exact name and identifiers.
  2. Gather existing fidelity coverage documents.
  3. List people who handle or control plan property.
  4. Prepare the preceding year's funds-handled information.
  5. Confirm the required amount and applicable exemptions.
  6. Choose the effective date and intended term.

Questions about this bond

Does this protect the plan sponsor from all claims?

The fidelity protection is for the plan against covered fraud or dishonesty. It does not replace liability insurance for the sponsor.

Can fiduciary liability insurance satisfy the requirement?

No. The Department of Labor treats fiduciary liability insurance and ERISA fidelity bonding as different forms of protection.

Do these term options include a fixed amount?

No amount is listed. Confirm your plan's required sum separately from the one-year or three-year period.

What happens after I continue to RLI?

The application opens in a new tab. Complete the provider's process; after issuance, review the insured plan, amount and dates and retain the document.

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