Overview
Mail Bonds protect Investment Advisers against “risk of direct physical loss” of securities or other covered property while being shipped by First-Class Mail, Registered Mail and United States Postal Service Express Mail. Mail Bonds offer considerably higher limits than insurance offered by the U.S. Postal Service. This policy also covers express shipments made through private carriers such as Federal Express.
Mail Bonds are intended primarily for financial and fiduciary institutions such as banks, trust companies, Investment Advisers, insurance companies and other persons or corporations whose business is primarily fiduciary in nature. Corporations that act as their own security transfer agents or registrars may also purchase such coverage.
Tell Me More
We listened to Investment Advisers 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:
- Assurance that all sources of shipping, including transfer agents and independent contractors, would be covered, and
- No reporting, auditing or back billing of shipments would be required.
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 Bonds policy provides comprehensive coverage for:
- Registered Mail
- First-Class Mail
- Carrier-for-hire*
- Incoming Shipments
*Coverage does not apply to armored car service.
Contact Information
We’re here to help! Please contact us in whatever manner is most convenient for you.
Regular Mailing Address
Attn: Mail Bonds
AMBA
P.O Box 850293
Minneapolis, MN 55485-0293
Overnight Mailing Address
Lockbox Services
AMBA
LBX 310293
13733 University Ave F2505-01B
Clive, IA 50325-8279
Phone
Hours
Monday - Friday 8:00 AM - 4:30 PM CT
Frequently Asked Questions
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?
A fidelity bond covers property while on your premises or while in the custody of a messenger.
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 AMBA 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?
For more information or to speak with a Client Representative, please contact our office at 1-800-978-6273 or send us an email to: plsdsteam.service@getamba.com.