A client is due to renew their ERISA bond. The insurance agent called to ask whether the bond could be subject to a deductible. I have never been asked this question before now.
My initial thought was no, a deductible is not acceptable. It almost seems that a deductible would defeat the purpose of the bond, at least in some small way.
But, I have been unable to find any guidance on this question. Any insights or thoughts would be appreciated.
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Dan Smith