Bonds Protect Against Employees’ Dishonest Acts and Failure to Perform Duties
The MCIT employee dishonesty and faithful performance of duty bonds respond to a member’s loss or damage to money, securities, and property other than money and securities caused by an employee’s dishonesty or failure to perform duties as prescribed by law. Minnesota Statutes require elected and appointed officials to meet requirements for fidelity bonding. Bonds are typically issued to the incumbent in the position and paid by the county/organization.
The MCIT employee dishonesty and faithful performance of duty bonds are provided to all member employees and elected and appointed officials. They meet the requirements of Minnesota law. MCIT members have a base coverage limit but can purchase higher, or excess, limits through MCIT on a blanket basis or for specific positions as they deem necessary.