Cantor Fitzgerald and Tower Bridge, both large financial entities, suffered losses exceeding $30 million due to fraud by a former employee of Tower Bridge and a former employee of a partner group. To protect against such risks, Cantor Fitzgerald held a fidelity bond for the period of April 27, 2020, to April 27, 2021, with a single-loss limit of $25 million. The bond was underwritten by four insurers: Federal Insurance Company ($10 million), and the three nonresident insurers ($5 million each).