The Federal Bonding Program |
| The Federal Bonding Program is a partnership between the U. S. Department of Labor and The McLaughlin Company, an insurance brokerage firm, as agent for Travelers Casualty and Surety Company of America. |
To participate in this program, a job seeker must have an employer who wants to hire them but cannot, because insurance commercially purchased by employers to protect against employee dishonesty usually will not cover at-risk persons. |
- Persons with a poor credit record
- Welfare recipients
- People who lack a work history
- Ex-offender with a record of arrest, conviction or imprisonment; anyone who has ever been on parole or probation, or has any police record
- Ex-addict who has been rehabilitated through treatment for alcohol or drug abuse
- An individual who has been dishonorably discharged from the military
- Self-employed persons are NOT ELIGIBLE for bonding services (bondee must be an employee who earns wages with Federal taxes automatically deducted from paycheck)
|
|
What Fidelity Bonding offers:
|
- Insurance to protect employers against employee dishonesty
- Coverage on any type of stealing: theft, forgery, larceny and embezzlement
- A hiring incentive, eliminating bonding as an employment barrier
- Bonds in the amount of $5,000
- Coverage for six months while employees prove themselves
- Continued coverage that can be obtained through Traveler's Insurance Company if no claim is made during the six-month period
|
|