I see that CAI already addressed this and it was an issue I was planning to comment on.  I just want to lend my support to that.  Currently it's an impossibility to get a bond that will go 2 1/2 years before expiring.

My other issue concerning the fidelity bond --- my fidelity bond is with State Farm.  I got it in September.  There is no wording in the bond that specifies that the bond includes "coverage for losses of clients..."  Upon questioning my insurance agent, I was assured, albeit verbally, that the State Farm bond department told him that after July all fidelity bonds for HOA management companies comply with Virginia's requirement that the bond cover their clients also.

Is verbal assurance going to be acceptable to the CICB?