Faithful performance coverage

{
  "id": "MLC-T-INS-001456",
  "term": "Faithful performance coverage",
  "field": "Insurance and risk management",
  "definition": "A type of fidelity bond that protects an employer against financial losses resulting from dishonest acts of employees, such as theft, fraud, or embezzlement. This coverage extends beyond mere dishonesty to include losses caused by an employee's failure to perform duties honestly and diligently. It is a broader form of protection than a standard dishonesty bond.",
  "url": "https://mlchart.com/terminology/insurance/faithful-performance-coverage/"
}