blanket bond

Definition of "blanket bond"
  1. An insurance agreement that provides coverage for all or a group of employees, such as bank employees or public trustees, against theft or dishonest acts
How to use "blanket bond" in a sentence
  1. The bank decided to purchase a blanket bond to protect itself from potential thefts by its employees.
  2. As a trustee in bankruptcy, he was covered by a blanket bond which protected against fraudulent activities.
  3. The financial institution enacted a blanket bond to shield itself from the risk of dishonest acts committed by employees.

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