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Ohio Fidelity Bonds for Credit Unions

Ohio credit unions must bond the treasurer and employees who administer or safeguard funds before those people begin work. The board and superintendent approve the amount, and the superintendent can require higher limits; ask which roles and electronic funds access are included. 1

What Is Fidelity Bonds?

Fidelity coverage can reimburse certain losses when employees steal money or property they handle. If employees manage company funds, customer property or benefit-plan assets, identify each owner and compare the required protection for each interest. Read the national Fidelity bonds guide.

Ohio Requirements

RequirementDetails
State bond requirementRequired before duties; amount approved by board and superintendent 1

What to Watch for in Ohio

  • Check Who the Bond Protects

    Ohio’s rule requires prompt notice to the superintendent after a bond claim. Ask the bond administrator who is responsible for reporting and preserve the policy notice address. Ask the regulator or appointing institution to confirm who receives payment after a covered loss; a required bond may protect a client or institution rather than reimburse your company. 1,2

  • Match the Bond to Covered Roles

    Ohio credit unions must bond the treasurer and employees who administer or safeguard funds before those people begin work Ask for the named insured, covered people, dishonesty definition, and claim notice rules in the bond form before relying on it for employee access to money or client property. 1

  • Separate the Bond from Your Crime Policy

    Ohio’s rule sets a specific bond obligation for credit unions. Ask the agent to compare that bond with first-party employee-theft, forgery, funds-transfer, and computer-fraud coverage; confirm whether the bond limit can be used for your own loss. Ohio’s rule requires prompt notice to the superintendent after a bond claim.. 1,2

Who Regulates Insurance in Ohio

Ohio Department of Insurance

ODI licenses insurance agents and agencies and provides a public agent and company locator. Its consumer complaint form accepts insurance complaints and lets you identify an agent or company. 3,4,5

Surplus-lines tax and stamping office

Reported tax rate: 5% of gross premium, net of return premiums For Ohio-home-state surplus-lines placements, Ohio sets a 5% tax on gross premiums after returned premiums and requires the surplus-lines broker to collect it when the policy is delivered. A diligent search usually applies; a qualifying exempt commercial purchaser may request nonadmitted placement in writing after disclosure that authorized-market coverage may offer greater protection, and the policy requires a signed notice of no Ohio guaranty-association benefits. 6,7,8

Providers With Documented State Licenses

These providers publish a national listing for Fidelity bonds; the state records document licenses for the entities and roles shown below. Some records rely on company-reported information rather than independent regulator verification. A national listing does not confirm the product is available in Ohio. Check the regulator’s license lookup and confirm state availability for your business when requesting a quote.

  • TechInsuranceSpecialty Program Group LLCInsurance producer · checked 2026-09-28TechInsurance’s current licensing page names Specialty Program Group LLC / SPG Insurance Solutions and lists state license numbers, but labels Rhode Island “Individual licenses” rather than identifying a license for the named agency. RI is omitted because this disclosure does not establish agency authority there; this is a search limitation, not an assertion that the company is unlicensed. The remaining state entries are company-reported and are not an insurance product availability map. 15
  • VouchVouch Specialty Insurance Services, LLCInsurance producer, Surplus-lines broker · checked 2026-09-28Vouch’s licenses page, effective January 16, 2025, lists producer licenses in all 50 states and DC. Its separate surplus-lines table includes Idaho number 870820, while a footnote says Georgia and Idaho do not issue agency-level surplus-lines licenses. Because those statements conflict for Idaho, this record keeps Idaho producer-only and does not treat the table number as established agency surplus-lines authority. The page is company-reported and does not establish product availability. 16

Questions to Ask Before You Buy in Ohio

  1. Which statute or regulator rule makes this bond mandatory for my credit unions business in Ohio?
  2. Who is protected by the required bond, and are all employees, agents, officers, or committee members with access to funds included?
  3. How did you calculate the required limit for my charter, assets, premiums, or staffing structure?
  4. What claim notice, cancellation notice, and replacement-filing deadlines apply to this bond?

Fidelity Bonds in Ohio: FAQ

Is a fidelity bond required for credit unions in Ohio? 1

Yes. Ohio credit unions must bond the treasurer and employees who administer or safeguard funds before those people begin work. The board and superintendent approve the amount, and the superintendent can require higher limits; ask which roles and electronic funds access are included. 1

How much fidelity coverage does Ohio require? 1,2

Required before duties; amount approved by board and superintendent. Ohio’s rule requires prompt notice to the superintendent after a bond claim. Ask the bond administrator who is responsible for reporting and preserve the policy notice address. 1,2

Fidelity Bonds in Other States

Other Coverage in Ohio

Sources

  1. Ohio Revised Code § 1733.23. Ohio Legislature; Credit-union treasurer and employee bonding. Accessed 2026-09-29.
  2. Ohio Administrative Code 1301:9-2-03. Ohio Department of Commerce; Bond scope, approval, reporting of claims. Accessed 2026-09-29.
  3. ohio insurance regulator. State insurance regulator; Official regulator home page and consumer/industry navigation. Accessed 2026-09-28.
  4. Ohio Department of Insurance Agent / Agency Locator. State insurance regulator; Public search fields for agent and agency name, NPN, license number, city, ZIP, residency, and license type. Accessed 2026-09-28.
  5. Ohio Department of Insurance Consumer Complaints Form. State insurance regulator; Online complaint form collects insurer, coverage, agent, issue, and supporting documents; page warns submissions may be public records. Accessed 2026-09-28.
  6. Ohio Revised Code §3905.36. Ohio Laws; Division (B): 5% of gross premiums after return premiums; surplus-lines broker collects from insured at policy delivery. Accessed 2026-09-28.
  7. Ohio Revised Code §3905.38. Ohio Laws; Division A: Chapter 3905 rules do not apply when Ohio is not insured's home state. Accessed 2026-09-28.
  8. Ohio Revised Code §3905.33. Ohio Laws; Divisions (B)(1), (B)(4): five-market diligence and ECP disclosure/written request; division (C): signed notice of no Ohio Insurance Guaranty Association benefits. Accessed 2026-09-28.
  9. Licenses. At-Bay; Current producer introduction and state table; At-Bay Insurance Services LLC; P&C and surplus-lines identifiers. Accessed 2026-09-21.
  10. Licenses and Carriers. Coalition; Licenses and Carriers, re-read 22 September 2026: Insurance Licenses table for Coalition Insurance Solutions, Inc., national producer number 18419475, with producer and surplus-lines numbers for all 50 states and DC including California 0L76155, Georgia 196479, Texas 2199630 and 2205589, Pennsylvania 815731 and 817452, Colorado 539028 and Wisconsin 3000108852. Insurance Carriers table naming, with NAIC numbers, Allianz Underwriters Insurance Company 36420, Arch Specialty Insurance Company 21199, Ascot Specialty Insurance Company 45055, Ascot Insurance Company 23752, Aspen Specialty Insurance Company 10717, Chaucer Insurance Company DAC, Coalition Insurance Company 29530, Fireman's Fund Indemnity Corporation 11380, Fortegra Specialty Insurance Company 16823, Lloyd's of London, MSIG Specialty Insurance USA Inc. 34886, MS Transverse Specialty Insurance Company 41807, Steadfast Insurance Company 26387, Vantage Risk Specialty Insurance Company 16275 and Zurich American Insurance Company 16535. Accessed 2026-09-22.
  11. Insurance Producer Licenses. Corgi Insurance; Current complete Insurance Producer Licenses table for Corgi Insurance Services, Inc.; 50 rows covering 49 states and DC (DC 3003091619); no New Mexico row; no NPN or as-of date shown. Accessed 2026-09-28.
  12. About Hiscox US Insurance. Hiscox; Hiscox Insurance Company Inc. NAIC 10200 as Chicago, IL domiciled insurer admitted or licensed in all 50 states and D.C.; Hiscox Inc. as general agent and Lloyd’s coverholder for Syndicates 33 and 3624; surplus-lines placements through licensed surplus-lines brokers; A.M. Best rating statement. Accessed 2026-09-16.
  13. Licenses. ERGO NEXT Insurance; Current entity-by-state license table reopened 28 September 2026: 50 rows under Next First Insurance Agency, Inc., including Washington, DC; New York rows instead list Next Insurance Services PC-1423070 and AP Intego BR-1198885. Accessed 2026-09-28.
  14. About Risklytics. Risklytics; What we do; Who we insure; Licensing; Agency licenses table dated 2026-09-10. Accessed 2026-09-16.
  15. Insurance Licenses by State. TechInsurance; Current state table; identifies TechInsurance as a division of Specialty Program Group LLC d/b/a SPG Insurance Solutions; lists DC 3000041536 and labels Rhode Island “Individual licenses,” without an agency license number. Accessed 2026-09-28.
  16. Licenses. Vouch; Effective 16 January 2025: Vouch Specialty Insurance Services, LLC, NPN 19926463; P&C table (50 states and DC); surplus-lines table includes Idaho 870820; footnote says Georgia and Idaho do not issue agency-level surplus-lines licenses; Idaho retained as producer-only due to conflict. Accessed 2026-09-15.

Updated .

This guide is informational and does not determine whether a policy is available or meets your needs. Editorial policy. To suggest a correction, contact Spot with a supporting source.

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