Definition Of Public Official Bond In Insurance

Definition of "Public official bond"

Arletta Cardinali Correia, Real Estate Agent Keller Wiliams Park Veiws Realty

Type of surety bond that guarantees the performance of public officials. Public officials are responsible for a broad range of property including fees that they collect, money that they handle, and bank accounts that they oversee. They may also be held responsible for misdeeds that result in a loss of public funds by those they supervise. In some cases coverage is available for an entire group of employees under a public employees blanket bond.