Some few states permit trust companies to do a fidelity insurance and title insurance business similar to that done by regular bond or surety companies. Fidelity insurance is devoted chiefly to acting as surety for the honesty and fidelity of officers and employees holding positions of trust and responsibility. Such an arrangement is better for all concerned than to have friends go surety for the person bonded, for the person signing the bond, and for the security afforded the beneficiary named in the bond. The fidelity company receives compensation for its service, assumes the risk as an actuarial business matter, and protects the beneficiary with its known financial responsibility. Title insurance is an agreement of the trust compay to defend, at its own expense, all litigation directed against the title insured by it, and in case of unsuccessful defense to bear losses up to the full sum insured for.

Trust companies also do a safe-deposit business, maintaining vaults so constructed as to be proof alike against burglars and mobs, fire, and water. Boxes are rented for the keeping of money, jewels, and valuable papers and access thereto is given only when the vault guard is in attendance.

While there are other minor functions performed by trust companies, those just described are the most important and indicate the wide variety and complexity of the trust banking business.