Question

The head teller of a bank embezzled $50,000 from the bank. Which insuring agreement in a financial institution bond is designed to cover such losses?

Answer 1

Answer:

Fidelity Bond

Explanation:

Based on the information provided within the question it can be said that the type of insurance that covers this is a Insuring Agreement called a Fidelity Bond. This is a type of insurance that covers the buyer of the policy from any losses that they may incur from a specific individual that works for them embezzling money or doing any other fraudulent behavior. Similar to what the head teller did to the bank in this scenario.