We listened to broker-dealer firms express their needs and concerns regarding the security of their shipments and what they’d like to see from a Mail Bond. Two major issues surfaced time after time:
In response to these demands, AMBA is proud to present a Mail Bonds Program that meets these needs.
Easy to access and very affordable, the Mail Bond provides comprehensive coverage for:
*Coverage does not apply to armored car service.
Answers about the plan, including eligibility, options, enrollment, customer service and more.
Why do I need a Mail Bond if I carry a Fidelity Bond such as Broker-Dealer Guard or Financial Institution Bond Form 14?
A fidelity bond covers property while on your premises or while in the custody of a messenger, other than mail or a non-armored carrier for hire.
Why do I need a Mail Bond if the U.S. Postal service insures my registered mail shipments?
The U.S. Postal Service only insures your registered mail shipments up to $25,000. A Mail Bond offers limits that are considerably higher than insurance offered by the U.S. Postal Service.
Why shouldn’t I simply purchase a lost security bond each time a shipment is lost?
Lost security bonds are time consuming and extremely expensive, because one has to be purchased separately each time a security is lost. For example, the cost for a Lost Instrument Bond or securities valued at $50,000 would be $1,000.
How are losses handled?
In the event your firm should suffer a loss, simply complete a Mail Loss Affidavit and submit it to the insurance carrier. Upon proper documentation demonstrating coverage, the insurance carrier will issue its Open Penalty Indemnity Bond directly to the transfer agent to effect replacement of the reported lost security. Simple loss handling instructions will be included with your Mail Bond.
What other insurance products are available for broker-dealer firms?
AMBA offers a variety of insurance products including Cyber Security Liability Insurance, Fidelity Bonds, Errors and Omissions Liability Insurance, Directors and Officers Liability Insurance, Employment Practices Liability Insurance, Property & Casualty Insurance, the Signature Guarantee Medallion Bond, 1st and 3rd Party ERISA Bonds and many more products. Please feel free to browse our site in its entirety for more information, or you may contact us directly at 1-800-978-6273.
How can I learn more about the insurance products offered by AMBA and how they can best serve my firm?
We're here to help! Please contact us in whatever manner is most convenient for you.
| Regular Mailing Address
Attn: Mail Bonds,
PO BOX 850293,
MINNEAPOLIS, MN 55485-0293
| Overnight Mailing Address
Attn: Lockbox Services #0310293,
1801 Parkview Dr. 1st Floor,
Shoreview, MN 55126
M-F 8a-4:30p (CT)