What does Blanket Bond mean? Read on to discover the definition & meaning of the term Blanket Bond - to help you better understand the language used in insurance policies.
A blanket bond is a type of insurance coverage that protects financial institutions from various types of hazards that can occur during the course of business. Blanket bonds typically protect financial institutions from employee dishonesty. Employee dishonesty can include the performance of acts such as fraud, theft, and forgery. Blanket bonds are also known as fidelity bonds.
We hope the you have a better understanding of the meaning of Blanket Bond.