Fidelity Bonding Program
Is the lack of bonding coverage keeping you from working or from hiring someone?
We can help!
The Fidelity Bonding Program is administered by the Alaska Department of Labor and Workforce Development, Division of Employment and Training Services. It is designed to eliminate bonding as a barrier to employment, and alleviate employer concerns about hiring at-risk job applicants.
Who is considered "at-risk"?
- Ex-offenders, including anyone with a record of arrest, conviction or imprisonment, and anyone who has ever been on probation or parole
- Ex-addicts (persons with a history of alcohol or drug abuse)
- Persons having a poor credit record or who have declared bankruptcy
- Economically disadvantaged persons who lack a work history
- Individuals who were dishonorably discharged from the military
- Others who experience a barrier to gaining employment due to their personal background.
How Bonds can help
- Employers receive the bonds free-of-charge as an incentive to hire hard-to-place job applicants.
- The bond insurance reimburses the employer for any loss due to employee theft of money or property.
- There is no deductible amount (i.e., 100% bond insurance coverage).
There are no forms or other paperwork for the employer to sign, and no processing to delay matters. The insurance can be put into effect almost instantly. Division of Employment and Training Services staff complete the one page form for bond issuance. The bond insurance can apply to any job* where full or part-time employees are paid wages with federal taxes automatically deducted from their pay. The bond insurance covers any employee dishonesty that occurs on or away from the employer's work facility.
* Self-employed persons cannot be covered by these Fidelity Bonds.
For more information regarding the Fidelity Bonding Program click here
or, contact the Job Center in your area
or contact: Teressa Parker, Bonding Coordinator at 907-465-5952