Business Service Bonds
Janitorial Services Coverage a.k.a Business Service Bond
The Janitorial Services Bond has a feature known as subscriber liability. With subscriber liability, the subscribers to a service of an insured are protected against a dishonest act by an employee; however, it is important to note that a subscriber to a service does not have a direct right of recovery under this coverage. The company only agrees to indemnify the insured for any loss of money or other property which it sustains or for which it becomes liable to any customer or subscriber through any fraudulent or dishonest act committed by its employees.
This bond is a blanket position bond covering each employee to the bond limit. The janitorial services bond is designed to provide coverage exclusively to the subscribers. The employers property is not covered. It also contains a conviction clause which requires the employee to be convicted of the dishonest act before coverage applies.
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