What Does Financial Institution Bond Mean?

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What does Financial Institution Bond mean? Read on to discover the definition & meaning of the term Financial Institution Bond - to help you better understand the language used in insurance policies.

Financial Institution Bond

Financial Institution Bond

Used to insure banks and other financial institutions against employee dishonesty, burglary, robbery, forgery, and similar crime exposures. Previously called a "bankers blanket bond." Coverage may be provided on the standard forms promulgated by the Surety Association of America (SAA) or on a special form drafted by the insurer.

We hope the you have a better understanding of the meaning of Financial Institution Bond.

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